| Work Detail |
Work on the project started in 2023 and is expected to be completed next year Construction work on the $11.5 billion fine chemicals and raw materials project of Huajin Aramco Petrochemical Company (HAPCO) is nearly 60 percent complete, according to a news report. Work on the project, which covers 8.97 sq km, started in 2023, state-backed Xinhua news agency reported. The project is expected to become a global petrochemical and fine chemical industry base. HAPCO is a joint venture between Aramco (30 percent), NORINCO Group (51 percent) and Panjin Xincheng Industrial Group (19 percent), the Saudi-listed oil giant said in a statement issued in March 2023. It is developing an integrated refinery and petrochemical complex in northeast China that will combine a 300,000 barrels per day refinery and a petrochemical plant with an annual production capacity of 1.65 million metric tonnes of ethylene and 2 million metric tonnes of paraxylene. The complex is expected to be fully operational by 2026, the March 2023 statement said. |
