Chinese firm starts site construction for Venezuelan refinery

Shanghai-based Wison Engineering Services Co, a builder of chemical plants, said today it has started site construction for a refinery project for Venezuelan state oil company PDVSA.

Wison secured the US$834 million procurement and construction contract with PDVSA, or formally Petroleos de Venezuela SA, for the Puerto La Cruz refinery deep conversion project in 2013.

Wison, China's largest private chemical engineering, procurement and construction management service provider, said it has recently signed subcontracting agreements with some other Chinese state companies, including China Railway No. 9 Group Co, as well as Italy's TREVI for the project in the port city of Puerto La Cruz.

The announcement was made during President Xi Jinping's state visit to Venezuela. China has encouraged its construction companies and machinery and equipment manufacturers to boost their global presence.

Hong Kong-listed Wison said the site preparation is scheduled for completion within 12 months.

Wison has stepped up overseas expansion with a focus on Southeast Asia, the Middle East and South America.