Bloomberg News

KPC to Choose China Refinery Investors ‘Soon’, Kuwait Times Says

October 17, 2011

Oct. 18 (Bloomberg) -- Kuwait Petroleum Corp. will decide on the international investors in a joint venture refinery with China Petroleum & Chemical Corp. in China “soon”, the Kuwait Times reported, citing the company’s chief executive officer.

“We at KPC still plan to give around 20 percent of our share to potential international investors, but a final decision will be made after studies are completed on pivotal issues, such as the number of petrol stations we can obtain,” the newspaper cited Farouk Al-Zanki as saying in a report on its website yesterday. Construction of the facility in Guangdong province’s Zhanjiang city has begun with operations expected to start at the end of 2014, according to the report.

--Editors: Alexander Kwiatkowski, Baldave Singh

To contact the reporter on this story: Jing Yang in Shanghai at jyang251@bloomberg.net

To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net


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