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Beijing - China plans to spend 180bn yuan (US$22.5bn) in the oil refining and petrochemical sector in the next five years, state media quoted an industry insider as saying on Saturday.
Xinhua news agency quoted Duan Wende, vice president of the country's largest oil producer PetroChina, as saying China aimed to build five 10-million-ton oil refining bases in the coming five years.
Two aromatic hydrocarbon production bases, four chemical fertiliser production bases and six large ethylene production bases were also planned.
The proposal was part of the country's efforts to make the oil refining and petrochemical sectors more efficient, it said.
China plans to increase its oil refining capacity by over 45 million tons to 170 million tons by the year 2010, an average growth rate of 5%, Xinhua said.
China's chemical products output is expected to hit 20 million tons by then, an increase of 12 million tons, Duan was quoted as saying.