The third phase of the 3.2 million ton PTA project and supporting projects in Sanfangxiang started
Recently, with a total investment of more than 50 billion yuan, the third phase of the PTA project with an annual output of 3.2 million tons of polyester new material integration in Sanfangxiang and supporting projects started in Jiangyin Lingang Development Zone, which launched the "first shot" of major projects in Jiangyin in 2024, demonstrating the clear orientation and firm determination of the municipal party committee and the municipal government to grasp the project and grasp the big project in the new year.
The Sanfangxiang polyester new material integration project includes a total investment of 4.515 billion yuan with an annual output of 3.2 million tons of PTA main plant project, the third phase of the expansion of supporting finished product storage projects, supporting circulating cooling water projects and supporting public works and tank farm transformation projects, which will introduce the most advanced technology and technology in the world to build the first PTA production unit with an annual production capacity of 3.2 million tons in China. The project uses the stock land for construction, and is planned to be completed and put into operation by the end of this year, which can increase the annual sales revenue of 18 billion yuan and the annual tax revenue of 300 million yuan.
With a total investment of 35.7 billion yuan, Sinopec officially started this large refining and chemical project
On January 3, the 2024 commencement ceremony of major projects in Hunan Province was held simultaneously in Yueyang City, Yiyang City and Changsha City, among which Sinopec Yueyang 1 million tons of ethylene refining and chemical integration and refining supporting transformation project started at the main venue in Yueyang, with a total investment of 35.7 billion yuan and an annual planned investment of 3.6 billion yuan, is the largest single investment industrial project in Hunan so far.
Hunan Petrochemical's 1 million tons/year ethylene refining and chemical integration project includes two parts: 1 million tons/year ethylene and oil refining supporting transformation. The project mainly adopts Sinopec's independent intellectual property rights and industry-leading green and low-carbon process technology, and the advantages of raw materials, technology and products are superimposed on each other, which will complement the complete industrial chain from crude oil processing to modern characteristic chemical industry in Yueyang area, and form an industrial pattern of "clean oil + modern chemical + new materials". After the project is completed and put into operation, it can drive downstream investment of more than 150 billion yuan, play an important role in promoting the rise of the central region and the development of the Yangtze River Economic Belt, and help Hunan Province build a trillion-dollar modern petrochemical industry core base.
67.5 billion yuan, 100 billion yuan of industry leaders! There are also a number of cooperation involving the "local tyrants" in the Middle East
Rongsheng Petrochemical recently announced that in order to extend the industrial chain of Zhejiang Petrochemical and Zhongjin Petrochemical, further enhance the company's comprehensive competitiveness, and develop low-carbon olefin and green environmental protection industries, the company's wholly-owned subsidiary, Rongsheng New Materials (Zhoushan) Co., Ltd., plans to invest in the construction of Jintang New Materials Project, with a total investment of 67.5 billion yuan.
The project is backed by the "chemical raw material warehouse" - Zhoushan Green Petrochemical Base and Ningbo Zhongjin Petrochemical Base, with a solid foundation.
Among them, Zhoushan Green Petrochemical Base has a refining capacity of 40 million tons/year, and Zhongjin Petrochemical has a production capacity of 1.6 million tons of PX and other downstream aromatic hydrocarbon products, using fuel oil and purchased naphtha as raw materials.
Relying on this, the Jintang New Materials Project will produce new material products including fine chemicals, high-end resins, engineering plastics, degradable plastics, special polyesters and high-end fibers.
The specific construction of the project includes 3 million tons/year catalytic cracking unit, 1 million tons/year gas separation unit, 600,000 tons/year aromatic hydrocarbon extraction unit, 300,000 tons/year PEO unit, 1 million tons/year EVA unit, 200,000 tons/year POE unit, 480,000 tons/year polyether polyol unit, 1.2 million tons/year ABS unit, etc.
On the same day, Rongsheng Petrochemical announced that it had signed a "Memorandum of Understanding" with Saudi Aramco. According to the memo, the two parties are discussing the proposed acquisition of a 50% stake in Saudi Aramco Jubail Refining & Chemical Company (SASREF) by Rongsheng Petrochemical (or its affiliates), and intends to increase production capacity and improve product flexibility, complexity and quality through expansion.
At the same time, the two parties are also discussing the potential acquisition of no more than 50% of CICC Petrochemical by Saudi Aramco, and jointly develop the upgrading and expansion of CICC Petrochemical's existing units and the development of a new downstream Rongsheng New Materials (Zhoushan) project.
According to the disclosure, from January to November 2023, the total amount of various related party transactions between Rongsheng Petrochemical and Saudi Aramco is 62.008 billion yuan. Aramco Overseas Company B.V., a wholly owned subsidiary of Saudi Aramco, holds 10% of the company's shares, and Saudi Aramco constitutes a related party of the Company pursuant to Rule 6.3.3 of the Rules Governing the Listing of Shares on the Shenzhen Stock Exchange, and the transactions under the MOU constitute connected transactions of the Company.
Through the signing of the Memorandum of Understanding, the two parties are expected to further strengthen the daily communication, technology research and development and business cooperation between the two sides, and promote the realization of their respective strategic goals and long-term sustainable development.
Source | Jiangyin Release, Yueyang Evening News, Sinopec, Petroleum Link, China Securities News
Edit | Huarui Information New Media Team
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