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Markets :: Basic Chemicals :: Petrochemicals :: Benzene

Hengyi and Brunei sign land lease agreement for refinery and petchems complex

4:41 AM MST | January 29, 2014 | Natasha Alperowicz

Hengyi Industries (Hangzhou, China) and the Brunei Economic Development Board (BEDB) have signed a land lease agreement for a previously announced integrated oil refinery and aromatics project planned on Pulau Muara Besar, Brunei, the BEDB has announced.  The agreement gives Hengyi rights to a 260-hectares site. The company has begun site preparation and reclamation activities on the island.   Hengyi plans to invest about $4 billion to build the first phase of the project, creating some 780 jobs.  The construction for phase one is scheduled to...

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