Major China-Saudi energy cooperation project break ground in Fujian
China Petrochemical Corporation (Sinopec) announced on Saturday that it had broken ground for the second phase of the Fujian Gulei Refining and Chemical Integration Project, a key initiative in China-Saudi Arabia energy collaboration.
The project, located at the Gulei Petrochemical Base, is expected to be operational by 2030, supplying 5 million tons of raw materials annually.
In addition to refining 16 million tons of crude oil annually, the facility will produce 1.5 million tons of ethylene and 2 million tons of paraxylene and other petroleum derivatives, and will host a 300,000-ton crude oil shipping terminal.
According to experts, the project helps effectively address the raw material supply for the Gulei Petrochemical Base, but also supports the development of downstream industrial chains for high-end products.
