Aramco signs MoU for Zhejiang Petrochemical’s complex

Zhejiang Petroleum & Chemical Co. Ltd. (ZPC) and Saudi Aramco signed a memorandum of understanding for acquisition of ownership by the Saudi company in ZPC’s 40 million-tonne/year refining and chemical integrated complex in Zhoushan, Zhejiang Province, China. The first 20 million-tpy phase is due for startup by December, while commissioning of Phase 2 is scheduled during first-quarter 2021.