The Times: China oil project complete: “Royal Dutch Shell and China National Offshore Oil Corporation (CNOOC), China’s leading oil company, have completed construction of their $4.3 billion (£2.5 billion) petrochemicals complex at Daya Bay, Guangdong.”: Posted 1 January 2006

Royal Dutch Shell and China National Offshore Oil Corporation (CNOOC), China’s leading oil company, have completed construction of their $4.3 billion (£2.5 billion) petrochemicals complex at Daya Bay, Guangdong. Shell said that construction had ended on time and within budget. Production is due to start in the first quarter. The petrochemical complex was the biggest joint venture in China when construction began three years ago.

At full capacity, the plant will be able to manufacture 2.3 million tonnes of petrochemical products, which will be destined for markets in the Guangdong province and southeast coastal China. The Daya Bay project is key to Shell’s aim to establish a significant presence in China, where demand for plastics and packaging is expected to make up 30 per cent of world consumption by 2010.

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