Large projects bring neighbors closer together

The large-scale iron, steel and petrochemical projects under construction in Zhanjiang present new opportunities for economic cooperation with ASEAN to reach a higher level, said Mayor Wang Zhongbing.

Located on Donghai Island in Zhanjiang, a petrochemical complex built with joint investments from the China Petroleum & Chemical Corp and the Kuwait Petroleum Corp is scheduled to go into operation in 2014.

Its initial investment is 59 billion yuan ($9.35 billion), and it has a designed capacity of 15 million tons of crude oil and 1 million tons of ethylene annually.