Hengyi Industries Sdn. Bhd.

The company is a joint venture established in 2011, with 70% ownership by China's Zhejiang Hengyi Group and 30% by Damai Holdings, a subsidiary of the Brunei government's Strategic Development Capital Fund. It represents the largest foreign direct investment in Brunei's history and a cornerstone of the national Wawasan Brunei 2035 economic diversification strategy.

Phase 1, completed with a USD 3.45 billion investment, entered commercial operation in November 2019. It has an annual refining capacity of 8 million tonnes and produces gasoline, diesel, jet fuel, LPG, 1.5 million tonnes of paraxylene, and 500,000 tonnes of benzene. The complex supplies 100% of Brunei's domestic fuel requirements and exports aromatics primarily to China.

Phase 2 expansion, advanced in 2026 with over USD 13 billion in additional financing, targets completion by late 2028. It will increase total refining capacity to 20 million tonnes per year and introduce Brunei's first naphtha cracker along with polyethylene and polypropylene production units. Sustainability efforts include Project SINAR, a major solar installation reducing carbon emissions, alongside workforce training and community programs.

Hengyi Industries positions itself as a regional leader in petrochemicals through technological innovation, operational excellence, and alignment with Brunei's downstream industry development goals.