OREANDA-NEWS. August 17, 2011. The National Development and Reform Commission, the nation's top economic planning body, has approved of the construction of the country's largest joint venture refinery and petrochemical project.

With total investment of CNY 60 billion, the joint venture project will be constructed by China Petroleum and Chemical Corporation (Sinopec) and Kuwait Petroleum Corporation's affiliates Kuwait Petroleum International and Kuwait Chemical in Zhanjiang city, Guangdong province. The project will begin construction in the second half of this year and is expected to be completed and start production in 2010, said Sinopec in a statement.

The nameplate refining capacity of the project is 15 million ton per year and ethylene production capacity is 1 million ton per year. Crude oil used for the project will be imported from Kuwait. It will adopt international and domestic advanced production process and pollution control technology and proceed with the design and management according to international most advanced environment protection standards.