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The China National Offshore Oil Corp (CNOOC) began construction work on a new refinery on the island province of Hainan, last Sunday. The industrial park in the city of Dongfang is scheduled to begin using petroleum from the South China Sea in December 2012, the company said.
Spending on phase one of the project totaled 4.3 billion yuan. The company plans to put another 3.9 billion yuan into phase two, to produce vinyl products, by April 2013.
China Daily - Agencies