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Markets :: Basic Chemicals :: Petrochemicals :: Para-xylene
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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