CHINA Petroleum & Chemical Corp, Asia's largest refiner, will complete construction of a 12.5-billion-yuan (US$1.7 billion) plant in the eastern coastal city of Qingdao by the end of next month to tap rising fuel demand.

The project will help boost the state-controlled refiner's market share, parent China Petrochemical Corp said in its online newsletter Sinopecnews. It didn't say when the plant will start commercial operations.