Sinopec to Start New Capacity at Tianjin Refinery in SeptemberBy John LiuApril 15 (Bloomberg) — China Petroleum & Chemical Corp., Asia’s largest refiner, plans to utilize new capacity at an oil- processing plant in Tianjin city on a trial basis in September as demand for fuel increases in northern China.
Annual capacity will triple to 15 million metric tons, or 300,000 barrels a day, from 5 million tons now, Tian Lihua, a spokeswoman at the plant, said by telephone from Tianjin today.
Sinopec, as China Petroleum is known, started work on the 21 billion-yuan ($3 billion) upgrade in June 2006. The project includes the addition of an ethylene plant that can produce 1.2 million tons a year of the chemical.
“Full operations” at the ethylene plant will start in November, the China Securities Journal said today, without citing anybody. Saudi Basic Industries Corp. and Sinopec will have equal stakes in the chemical plant, Sabic said in June.
To contact the reporter on this story: John Liu in Shanghai at jliu42@bloomberg.net; Winnie Zhu in Shanghai at wzhu4@bloomberg.netLast Updated: April 14, 2009 22:27 EDT