Saudi Aramco, the world’s largest oil company, and its Chinese partners Norinco and Panjin plan to start building a large integrated refinery and petrochemical complex in China.
Aramco Huajin Petrochemicals, a joint venture of Aramco with 30 percent, Norinco 51 percent and Panjin 19 percent, is developing the Greenfield complex, according to the Saudi company statement.
The complex will include a refinery with a production capacity of 300,000 barrels per day and a petrochemical plant with an annual production capacity of 1.65 million mt of ethylene and 2 million mt of paraxylene.
Construction work is planned to start in the second quarter of 2023, after the project has received the necessary administrative approvals.
While it is expected to be fully operational in 2026, Aramco will supply 210,000 barrels of crude oil per day to the complex to be built in Panjin, China.
Saudi Aramco has been operating in the petrochemical industry recently, after acquiring 70 percent of petrochemical giant Saudi Sabic in 2020.
