(EnergyAsia, August 28, Friday) — PetroChina, Royal Dutch Shell and Qatar have asked China’s overall economic planning agency, the National Development and Reform Commission, for approval to build a large refining and chemical complex in Taizhou city in eastern Zhejiang province.

The complex will include a 400,000 b/d oil refinery, a 1.2-million-ton-per-year ethylene plant and a crude oil wharf on Dachen Island. The complex is estimated to cost 80 billion yuan. (US$1 = CNY6.83).

PetroChina, Asia’s largest oil company, will hold a 51% stake in the proposed 80-billion project while Shell and Qatar will take 24.5% apiece.