The proposed plant will have a capacity of 4.5 million metric tons a year, or about 33 million barrels of crude oil.
The storage facility would store about 90 days of crude supply for the refinery, reported Dow Jones Newswire.
Sinopec’s Luoyang refinery would process 8 million tonnes of crude in 2012, an increase from 6.6 million tons last year.
The refinery’s next maintenance is scheduled in 2016.
The Luoyang refinery is expected to process between 18 million and 20 million tons of crude by 2020.
