BEIJING (Reuters) -- China’s top economic planning body has granted final approval for the $9 billion refinery, petrochemical joint venture between Sinopec and Kuwait, two sources said.

The venture, to be built in the southern coastal city of Zhanjiang of Guangdong province, includes a 300,000 barrel-per-day refinery and a 1 million tonne-per-year ethylene complex.
“The National Development & Reform Commission gave the approval last week,” said one industry official with direct knowledge of the government’s decision.