The Russian oil company Rosneft and the Chinese National Oil and Gas Corporation have agreed to jointly build in Tianjin an oil refinery with a capacity of 10 million tonnes a year, the news agency Xinhua reported on Saturday according to Itar-Tass.
According to the news agency, the companies have already registered a joint venture that will be engaged in implementing the project.
During a recent meeting with a delegation of Rosneft, vice-mayor of Tianjin Yang Lungliang promised to solve the issue connected with the provision of a land plot for the construction of the oil refinery before June 2008.
Tianjin is one of the biggest ports of mainland China.