BANDAR SERI BEGAWAN, Oct. 17 (Xinhua) -- Hengyi Industries is targeting a 50 percent localization rate for Bruneians in the workforce of its second-phase petrochemical refinery expansion at Pulau Muara Besar once the project becomes operational, the company said on Thursday.
Speaking at the company's media appreciation event near the capital, Chen Liancai, chief executive officer of Hengyi Industries, said the target reflects the company's commitment to involving more local talent in the project and supporting their career development in the downstream petrochemical industry.
He said the second-phase project involves an investment of 5 billion U.S. dollars and is expected to increase the refinery's annual capacity from 8 million tons to 20 million tons upon completion.
Chen said the expansion will also broaden the range of refined products the company can produce.
He said Hengyi Industries will continue to work closely with the Brunei government, their partners, employees and the wider community to support the development of Brunei's downstream petrochemical industry.
Hengyi Industries is a joint venture between China's Zhejiang Hengyi Group and Damai Holdings, a wholly-owned subsidiary under the Brunei government's Strategic Development Capital Fund. ■