Brunei in recent years, the largest single foreign investment project - Zhejiang Hengyi Petrochemical Brunei Daolaozao integrated refining project has entered a full phase of construction, is expected to be completed by the end of 2018, the first quarter of 2019 officially put into operation.
Hengyi Petrochemical Brunei refinery project is located in Brunei PMB, covers an area of 260 hectares, the project and the Government of Brunei, Zhejiang Hengyi Petrochemical accounted for 70% of the shares, Brunei government accounted for 30% stake. Heng Yi Industrial (Brunei) Co., Ltd. Chief Executive Chen Lian Choi said Heng Yi Brunei PMB project with a total investment of 15 billion US dollars, implemented in two phases. An investment of 3.45 billion US dollars, crude oil processing capacity of 8 million tons, the production of 1.5 million tons of p-xylene and 500,000 tons Benzene Phase I. The first phase of the project is now in full construction phase and is expected to be completed by the end of 2018 and put into operation in the first quarter of 2019. The second phase invests nearly 12 billion U.S. dollars and newly adds 14 million tons of crude oil and produces 2 million tons of paraxylene and 1.5 million tons Ethylene project has now entered the stage of product demonstration program is expected to be completed by the end of January this year feasibility study and environmental assessment, put into operation in 2022. After the completion of the project put into production, Hengyi will be formed in Brunei PMB 22 million tons refining and chemical integration base .
Hengyi Petrochemical Company said that after the project is completed and put into operation, the domestic downstream enterprises such as xylene, benzene and other chemical products to be sold to the Company, gasoline and diesel will fully meet the domestic market demand of Brunei and help the local development of oil and gas downstream industries and upgrade Future Economic Growth Potential: Wang Xiaolin, President of Brunei-China Enterprises Association and President of BOC Hong Kong Brunei Branch, said that as the leader of the "Going-out" Chinese-funded enterprises in Brunei, the Heng Yi Brunei PMB project has been widely adopted by various circles in Brunei Concerned that CEIBS expects Hengyi project to be completed and put into operation as soon as possible, providing greater impetus to Brunei economy.
Yang Jian, Chinese ambassador to Brunei, said that since Hengyi Petrochemical entered into Brunei as the single largest foreign investment project in Brunei in recent years, it has paid great attention to enhancing communication with the Chinese side and undertook a great social responsibility to promote the cooperation between China and the two countries The healthy development of relations has played an important role.