Saudi Aramco forms JV to develop $10-billion refining and petchem complex in China...

摘要

Saudi Aramco has signed an agreement to form a joint venture with China North Industries Corp. (Norinco; Beijing) and Panjin Sincen to develop a $10-billion fully integrated refning and petrochemical complex in China. The partners will create a new company, Huajin Aramco Petrochemical Co., to develop a 300,000 b/d refnery, a 1.5-million metric tons/year (MMt/y) ethylene cracker, and a 1.3 MMt/y para-xylene unit. Aramco will own 35% of the new JV company, with Norinco and Panjin holding 36% and 29%, respectively.