October 18, 2018 / 4:40 AM / a year ago

Saudi Aramco to take stake in Zhejiang Petrochemical refinery - executive

ZHOUSHAN, China, Oct 18 (Reuters) -

* State oil giant Saudi Aramco will take a stake in a new refinery being built by Zhejiang Petrochemical, said an Aramco executive on Thursday

* The oil giant expects to supply 170,000 barrels per day of Saudi crude to the refinery in Zhoushan in eastern China when it starts operation, Aramco’s Senior Vice President of Downstream, Abdulaziz al-Judaimi, told Reuters

* Zhejiang Petrochemical, 51 percent owned by textile giant Rongsheng Holding Group, plans to start its 400,000-barrels-per-day refinery-petrochemical project in eastern China in late 2018. (Reporting by Meng Meng and Dominique Patton; editing by Richard Pullin)

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