On November 18th, Jinshi Data reported that the second phase of the Fujian Gulei Refining and Chemical Integration Project, with a total investment of 71.1 billion yuan, held a groundbreaking ceremony in the Gulei Petrochemical Base in Zhangzhou, Fujian Province. This project is also a large-scale energy investment project under the joint construction of the Belt and Road, and it is an important part of the new pattern of three-dimensional cooperation between China and Saudi Arabia. The main construction includes a 16 million tons/year refinery, 1.5 million tons/year ethylene, 2 million tons/year paraxylene and downstream derivatives facilities, as well as supporting projects such as a 300,000-ton crude oil terminal. The project is expected to be fully operational by 2030.
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