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Business
Sino-Kuwaiti Plant Costs Are Running Up
August 25, 2008
| A version of this story appeared in
Volume 86, Issue 34
Kuwait Petroleum estimates that its proposed refining and chemicals joint venture with Chinese state oil and chemical company Sinopec will cost up to $9 billion. The company had previously said the project would cost about $5 billion. The Kuwait Petroleum project would include a 300,000-barrel-per-day refinery and a 1 million-metric-ton ethylene cracker. Kuwait Petroleum had previously been planning a 260,000-bbl-per-day refinery. Dow Chemical, which is forming a global petrochemicals joint venture with Kuwait Petroleum, has been mulling over participation in the venture.
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