AP: China - CNPC, Shell and QP sign US$10bn petrochem deal
China National Petroleum Corp, Royal Dutch Shell and Qatar Petroleum have signed an agreement to implement a US$10bn petrochem project in the eastern Chinese city of Taizhou. The project includes a 400,000-barrel-per-day refinery and a 1.2mtpa ethylene complex. The partners will set up an SPV and source debt finance from Middle East, Chinese and international banks.
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