Sinopec mulls 60b yuan refinery for East China

China Petroleum and Chemical Corp, Asia’s largest refiner, is in talks to build a plant in eastern Jiangsu province at a cost of as much as 60 billion yuan (HK$60.63 billion) to tap rising fuel demand, a local government official said.
Sinopec as the company is known, may build a refinery in the city of Lianyungang able to process 20 million tonnes of crude oil a year, Qian Qilian, head of the Jiangsu Chamber of Commerce for the Petroleum Industry, said Wednesday. China plans to expand oil-processing capacity 25 percent by 2010 to meet use of gasoline, diesel and chemical raw materials.

TheStandard