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Article: VENEZUELA: Construction start-up on proposed $300,000,000 orimulsion plant is tentatively scheduled to begin by the end of the year 2001, CHINA NATIONAL PETROLEUM CORP. (CNPC) [China] - Order #: 0611801.
- Article from:
- WWP-Report on Engineering Construct & Plant Operations in the Developing World
- Article date:
- June 1, 2001
CopyrightCOPYRIGHT 2001 Worldwide Projects, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PROJECT OVERVIEW:
A recent state visit by the President of China enabled the conclusion of a purchase agreement for the locally produced orimulsion boiler fuel as well as the confirmation of CHINA NATIONAL PETROLEUM CORP.'s (CNPC's) plans to build a new orimulsion plant in the country. In so doing, a joint venture is to be established with BITOR, a subsidiary of the state-owned PETROLEOS DE VENEZUELA SA (PDVSA), in order to implement the project. As a result, CNPC is expected to hold a 70% interest in the venture while BITOR picks-up the balance of the equity.
Construction plans under consideration call for building a complex with an installed ...