An impressive aerial view of the new refinery and petrochemicals project in Pulau Muara Besar in Brunei [Photo/zjol.com.cn]

A flagship refinery and petrochemicals project built and operated by Hangzhou-based Hengyi Petrochemical Co on Pulau Muara Besar island in Brunei is making significant progress, with the final major components set to be installed in July, according to the group.

As one of the key projects of Belt and Road Initiative, the PMB project is Brunei's largest single foreign direct investment project of recent years at a total investment of about $40 billion.

The success of the project has expanded the presence of Xiaoshan enterprises internationally and set a good example for homegrown companies to go global, said an official from Xiaoshan district during a visit in Brunei.

The project will go into commercial operations soon, the official added.