Sinopec and Saudi Aramco start a $10 billion refinery project in China set to open by 2030.

Sinopec and Saudi Aramco have begun constructing a $10 billion refinery and petrochemical complex in Fujian, China. Set to be operational by 2030, the complex includes a 16 million ton refinery, a 1.5 million ton ethylene plant, and a 2 million ton paraxylene facility. The project, which aims to supply 5 million tons of petrochemical feedstock annually, is a joint venture between Sinopec, Saudi Aramco, and Fujian Petrochemical, with each company owning a significant stake.

November 18, 2024
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