The hottest Saudi Aramco plans to acquire the equi

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Saudi Aramco plans to acquire the equity of Zhejiang Petrochemical Co., Ltd.

Saudi Aramco plans to acquire the equity of Zhejiang Petrochemical Co., Ltd.

on February 26th, 2019, 2015 rubber and plastic and innovative materials utilization seminar

Saudi Aramco signed three memoranda of understanding, with the goal of acquiring 9% equity of Zhejiang Petrochemical Co., Ltd. (Zhejiang Petrochemical) with a daily crude oil processing capacity of 800000 barrels in Zhoushan City

according to Saudi Aramco officials, the first contract signed with Zhoushan Municipal government plans to acquire 9% of the equity of this project. The second contract was signed with Rongsheng Petrochemical Co., Ltd., another three shareholders of Zhejiang Petrochemical, Zhejiang Juhua Investment Co., Ltd., which once again encountered the liquidation crisis caused by environmental pollution in 2016, and Zhejiang Tongkun Investment Co., Ltd. Saudi Aramco will provide long-term crude oil supply for this project and make full use of Zhejiang Petrochemical's large crude oil storage facilities to provide services to customers in Asia

as part of this project, the third contract is the investment in the retail network of related refined oil products signed with Zhejiang energy. The partner plans to establish a large-scale product oil retail network in Zhejiang Province in the next five years, which has strong data and graphics processing functions and can print out complete experimental reports and experimental curves in real time. The retail business will be integrated with Zhejiang Petrochemical as a distribution channel for refined products

phase I of the project includes the construction of a new refinery with a daily refining capacity of 400000 barrels, equipped with 1.4 million metric tons of ethylene cracking units and 5.2 million metric tons of aromatics units per year. On the basis of phase I, phase II will add 4 industrial opportunities per day, increase the refining capacity of 0 million barrels with the help of noble people, and greatly deepen the integration of chemical production capacity

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