Kuwait, China sign US$9 billion oil refinery deal
The Chinese capital Beijing hosted the signing ceremony of the agreement to launch the joint Kuwait - China oil refinery, which is worth US$9 billion. Its capacity will be 300,000 barrels per day. The agreement signed between the representative of Kuwait Petroleum Corporation and the Chinese "Sinopec".
The Kuwaiti Embassy in China said in a statement that the project is built in the city, Zianjiang in the province of Guangdong. The agreement was signed on behalf of the Kuwait Petroleum Corporation by Chairman and Managing Director, Hussein Ismail, and by Sinopec chairman Wang Tian Bo.
According to the statement, "This project holds great strategic importance to Kuwait and contributes to the marketing of Kuwaiti oil in one of the most important oil markets in the world."
- Egyptian stocks plummet as Yemen confict deepens
- Mission to Mars: UAE plans Arab region's first unmanned probe
- Supervising the stoners: Egyptian tobacco traders call for the legalization of cannabis
- Ethiopia launches $2.8m research survey for Nile basin development
- UAE sweetens flotation regulations to attract more investment
- Sweet Cred wins US$ 9 million worth of business on opening day of sweets Middle East
- HSBC AMANAH RECORDS TRANSACTIONS WORTH US$1.45 BILLION IN FIRST QUARTER 2006
- big 5 and pmv join forces in mega expo to tap into us$2.8 trillion middle east construction boom
- Kuwait China Trade Relations Set to Strengthen at May Meeting