Sinopec to Build 8 Million-Metric-Ton Refinery and Chemical Project in Anhui Province

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Researched by Industrial Info Resources (Sugar Land, Texas)--China Petroleum & Chemical Corporation (NYSE:SNP) (Sinopec) (Beijing)and the government of Anhui province have signed an agreement to build a $1.5 billion integrated refinery and chemical project in Anqing, Anhui. Construction is expected to begin at the end of 2009. Upon completion, Sinopec's Anqing Branch will have an annual processing capacity of 8 million metric tons.

The branch is currently the largest manufacturing enterprise directly under the province's central government, and also the only petrochemical enterprise integrated with oil processing, chemical and fiber manufacture, and power generation in the middle and upper parts of the Yangtze River. In 2008, the branch's accumulative crude oil processing volume was about 90,800 barrels per day.

Su Shulin, a General Manager of Sinopec, described the project as a "win-win" deal and said that the parties will work to complete the project as quickly as possible.

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