Sinopec will invest 14.8 billion yuan to expand its refining and petrochemical projects in Hunan province.

Asia's largest refiner said yesterday that it would invest 7 billion yuan to expand its Changling refinery and 7.8 billion yuan to upgrade the Baling chemical plant, which would become the largest refining and petrochemical project in central China.

Sinopec plans to process 174 million tons of crude oil this year, and produce 104 million tons of refined oil products, company President Su Shulin said earlier.