Sinopec, KPC choose Zhanjiang for oil complex

China's Petroleum & Chemical Corp., Asia's biggest refiner, said Monday its joint refining and chemical complex with Kuwait Petroleum Corporateion (KPC) will be built in Zhanjing city in South China's Guangdong province.

The $9 billion project is expected to be completed by the end of 2013 after it gains approval from the National Development and Reform Commission, said the company in a statement.

It will become one of the country's biggest refining and chemical complexes with an annual capacity of 15 million tonnes.

The two parties first picked Nansha District of Guangdong's capital city Guangzhou as the complex's location but relocated the plant on environmental concerns.

Sinopec said the two parties would launch feasibility studies for the new location and evaluate environmental impact this week.