Sinopec, Kuwait in MOU to build China Zhanjiang refinery
BEIJING, Oct 26 (Reuters) - China's Sinopec Group and OPEC member Kuwait signed on Monday a preliminary pact to build a mega refinery and petrochemical complex in southern China's Zhanjiang city, an industry executive told Reuters.
The deal, inked also with local governments, marks another step forward for the planned $9 billion venture after Beijing's order to resite the plant on environmental concerns, allowing partners to officially kick off a feasibility and environmental impact assessment (EIA).
"The MOU is signed today, it's officialising the deal after picking Zhanjiang as the new site," said the official familiar with the investment.
The feasibility and EIA report are expected to be completed by around March 2010 before submitting to the government for approval.
"We are expecting to get that approval around April, May," the official added.
(Reporting by Chen Aizhu; Editing by Ken Wills)
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