Why in News Sri Lanka approved a proposal by China’s Sinopec to build a $4.5 billion refinery. This will makes the largest single invest...
Why in News
Sri Lanka approved a proposal by China’s Sinopec to build a $4.5 billion refinery.
This will makes the largest single investment in the island nation since the economic crisis last year.
China is also Sri Lanka’s biggest bilateral lender.
China’s Sinopec
China Petrochemical Corporation (Sinopec Group) is a super-large petroleum and petrochemical enterprise group.
Its established by the state in July 1998 on the basis of the former China Petrochemical Corporation.
It is the largest oil and gas producer in China, the second largest oil refining company in the world, and the second largest chemical company in China.
Sinopec has a registered capital of 326.5 billion yuan and is headquartered in Chaoyang District, Beijing.
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