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On July 12, the Guangdong Provincial Development and Reform Commission issued a public notice regarding the pre-approval announcement for the refinery transformation and upgrading project as well as the ethylene quality improvement project at the Maoming branch of Sinopec Corporation. It is understood that this project was invested in and constructed by Maoming Petrochemical; the total investment amount is 3,007,403,000 yuan. The construction will take place in the Maoming High-Tech Industrial Park and the Maonan Petrochemical Industrial Park, with a construction period of 36 months. The funds are raised by the enterprise itself, with project capital accounting for 30%. The scale of the project construction and its main components include: carrying out adaptive modifications to the refining section without adding additional refining capacity, phasing out the existing 360,000 tons per year ethylene plant, and building a new 1 million tons per year ethylene plant along with downstream processing facilities. On April 1, 2021, the Guangdong Provincial Energy Bureau made public its review comments on the energy conservation report for the \"Refining Transformation and Upgrading sowie Ethylene Quality Improvement Project of Sinopec Maoming Branch.\" The main construction items announced in 2021 included: upgrading a catalytic cracking unit with an annual capacity of 3 million tons, along with supporting facilities such as alkylation units, MTBE production units, distillate hydrogenation units, and units for the hydrogenation of environmentally friendly rubber oils and wax-based oils ； Increase the ethylene production capacity from 1 million tons per year to 1.64 million tons per year, and build supporting facilities for hydroprocessing of pyrolysis gasoline, butadiene extraction, and aromatic extraction ； Construct facilities for FDPE (full-density polyethylene), EO (ethylene oxide), PP (polypropylene), PO (propylene oxide), ABS, etc.