SINOPEC Hainan plans to invest 41.7 billion to start the expansion project of 1 million tons of vinyl and 13 million tons of refining oil in Yangpu Economic Zone in 2013, and the project is expected to be completed in December, 2015.

After its completion, the project will deliver an annual output value of 86.8 billion yuan, total taxes of 7.498 billion yuan and total profits of 440 million yuan.

To date, SINOPEC Hainan has invested 11.6 billion yuan and produced 8 million tons of refining oil, which has helped to ease the tight oil market in Hainan.


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