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Chinese firm bags contract for oil refinery


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The Cambodian firm set to operate the Kingdom’s first oil refinery inked an agreement yesterday with a Chinese state-owned petroleum company to cover the landmark project’s first phase of construction.

Cambodia Petrochemical Company (CPC), which first announced plans to build an oil refinery in 2011, signed a contract with the Chinese National Petroleum Company (CNPC) to cover the engineering, procurement and construction of the first phase of the refinery, valued at $620 million.

According to a presentation at the signing ceremony, the refinery will be able to process 5 million tonnes of crude oil annually once it is completed by the end of 2018.

read more http://www.phnompenhpost.com/business/chinese-firm-bags-contract-oil-refinery

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