Ground broken for $1.6bn oil refinery

[geovalin]

The joint venture behind an oil refinery which officially broke ground yesterday says it plans to build a chain of 300 petrol stations to supply the local market. The venture between the Cambodian Petrochemical Company (CPC), and China Perfect Machinery Industry Corp (Sinomach) will have a total capital investment of $1.62 billion and will be able to produce five million tonnes of fuel per year.
 

The facility is being built on 365 square metres in Sihanoukville and Kampot provinces. About $300 million is to be spent on the petrol stations. In the first of two phases, the company will spend $620 million which allow for the production of about two million tonnes a year. It will be completed in mid-2019 and supply only the local market.
 

The first construction phase would transform Cambodia from an oil importing country to an oil-producing country, CPC director Hann Khieng said at the ground-breaking ceremony in Sihanoukville yesterday.   “Our company will invest another $300 million to build about 300 petrol stations with mini marts and big carparks,” he said.

 

read more http://www.khmertimeskh.com/news/38063/ground-broken-for--1-6bn-oil-refinery/

 

 

-- © Copyright Khmer Times 05/05