China firm wins deal to build Cambodia's first oil refinery: Xinhua

[BEIJING] An engineering unit of China National Petroleum Corporation (CNPC) won a US$620 million contract to build an oil refinery in Cambodia, China's official Xinhua News Agency reported on Thursday.

Northeast Refining and Chemical Engineering Company (CNPCNE) is scheduled to complete building the first phase of the project of 2 million tonnes per year, or about 40,000 barrels per day (bpd) by 2018, Xinhua said.

This will be Cambodia's first oil refinery and will help cut its reliance on fuel imports, Xinhua said.

The refinery, located in Cambodia's southwestern Preah Sihanouk province, will be further expanded to 100,000 bpd at a total cost of US$3 billion, Xinhua quoted Hann Khieng, the managing director of the Cambodian Petrochemical Company (CPC), as saying.

The plant is jointly owned by CPC and the Chinese firm Sinomach China Perfect Machinery Industry Corporation.

REUTERS