ERHC Energy Inc (ERHE)

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China's Sinopec to invest 4.3 bln yuan in gas-oil facility in Chongqing - report
09.25.2006, 10:34 PM

BEIJING (XFN-ASIA) - China Petroleum & Chemical Group Corp (Sinopec), the country's largest refiner, is planning to invest 4.3 bln yuan to construct a plant in the southwest city of Chongqing converting natural gas into petroleum product equivalents, the China Business News reported.

The facility, the first of its kind in the country, is expected to start operations by 2008, producing two mln tons of fuel annually, the newspaper reported, citing officials at an industrial park where the plant will be located.

In June, Sinopec reported a natural gas find in the northeast of Sichuan Province near Chongqing, with reserves of about 500 bln cubic meters.

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