China Unveils 1st Oil Refinery Project in Cambodia

Cambodian Petrochemical Company and Sinomach China Perfect Machinery Industry Corp. jointly announced on Friday a plan to build the first oil refinery in Cambodia and the construction is expected to be completed at the end of 2015, China's state-run Xinhua News Agency reported from Phnom Penh.

Sinomach President Zhang Sugang said the oil refinery will cost USD 2.3 billion and it will take 36 months to be constructed on the 80-hectare area, according to the report. "When the construction is completed, the plant will be capable to produce 5 million tons of oil a year (100,000 barrels per day (bpd))," Zhang was quoted as saying after a signing ceremony in the Cambodian capital.

During a signing ceremony, the Cambodian government signed to grant an oil refinery license to Cambodian Petrochemical to build the factory. Cambodian Petrochemical plans to build an oil refinery with the high-and-latest technology that has not been used in the Southeast Asian nations.