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On August 31, the completion ceremony and kick-off meeting for the second phase of Shandong Koruer Chemical Co., Ltd.’s 260,000 tons per year acrylonitrile production project were successfully held at Dongying Port. This project is a model of a mixed-ownership economy across the country, created by Wanda Group and Sinopec! It is understood that the 260,000 tons per year acrylonitrile production facility of Shandong Korull Chemical Co., Ltd. utilizes the advanced acrylonitrile ammoxidation technology developed by Sinopec. The main product, acrylonitrile, can be used to manufacture acrylic fibers, acrylamide, ABS resin, nitrile rubber, hexanitrodiazine, and other substances; it can also be applied in various organic synthesis processes and the pharmaceutical industry, offering a wide range of applications and promising future prospects. The total investment for Phase 1 of the project was 1.572 billion yuan, and it achieved successful commissioning on December 2, 2014, producing qualified products. On May 22, 2020, the groundbreaking ceremony for the second phase of the project was held, with a total investment of 1.252 billion yuan. The full construction was completed in just 15 months; on August 31, 2021, the project met the handover requirements, and production volumes of all products are set to double once it goes into operation. Leaders such as Zhang Shaoguang, representative of Sinopec Qilu Branch and Party secretary; Wang Xiaojun, member of the Dongying Municipal Party Committee and executive vice mayor; Liu Xunshu, deputy general manager of Qilu Petrochemical; Yang Tongxian, Party secretary and director of the Management Committee of the Dongying Port Economic Development Zone; Shang Jiyong, Party secretary and chairman of the board of Wanda Group; Xu Shiping, manager of the Engineering Department at Qilu Petrochemical; and Ren Dongzhi, chairman, Party secretary, and general manager of Shandong Kerul Chemical Co., Ltd., attended the event. Zhang Shaoguang, representative of Sinopec Qilu Branch and Party secretary, said in his speech that since the start of construction of the second-phase project, with strong support from the Dongying Municipal Party Committee, the municipal government, and the Dongying Port Management Committee, as well as through the joint efforts of Qilu Petrochemical and Wanda Group, all relevant parties worked together closely. They focused on their goals, worked hard and diligently, strived to make progress as quickly as possible, worked overtime to advance the project, and ensured its safe and orderly development. As a result, they achieved success in both aspects of the project, realizing a win-win situation for all involved. Korul has been growing in the fertile soil of Dongying Port for 9 years now. The acrylonitrile project is an important part of Qilu Petrochemical’s development strategy. Going forward, the two parties plan to advance the ABS project, which utilizes acrylonitrile as a raw material, in order to expand the industrial chain, create new sources of profit growth, accelerate development, and ignite new drivers for growth. Wang Xiaojun, Secretary of the Dongying Municipal Party Committee and Executive Vice Mayor, extended warm congratulations to CCCC on behalf of the Dongying Municipal Party Committee and the municipal government. In his speech, he emphasized that Qilu Petrochemical is a super-large petrochemical complex directly under Sinopec Group, boasting strong capabilities and advanced technology, and has established a good cooperative relationship with Dongying since early on. The Korur Acrylonitrile Project, jointly developed by Qilu Petrochemical and Wanda Group, is a model project of collaboration between state-owned and private enterprises. It also serves as a key element in establishing an acrylonitrile industry chain in our city, and it will inject new momentum and vitality into the development of the petrochemical industry in Dongying. Next, the municipal and district levels should work together to provide excellent services, give full support to the development of Qilu Petrochemical in Dongying, and help to achieve even more fruitful results through their cooperation! Yang Tongxian, Secretary of the Party Working Committee and Director of the Management Committee of the Dongying Port Economic Development Zone, said in his speech that the zone is an ideal location for entrepreneurial investment as well as a place with rapid development, and it is currently at a crucial moment when efforts must be concentrated to achieve breakthroughs. We sincerely hope that both parties to the project will use this as a starting point to accelerate the development of downstream projects such as the 400,000 tons per year ABS engineering plastic production facility, and through deeper cooperation on a larger scale, in more areas, and at a higher level, strive to build a first-class acrylonitrile production base in the country. The development zone will provide enterprises with comprehensive, round-the-clock, and full-process services, making every effort with the utmost sincerity to foster their vigorous development. Shang Jiyong, Secretary of the Party Committee and Chairman of the Board of Wanda Group, said in his speech that Shandong Koruer Chemical Co., Ltd. is a model project for a mixed-ownership economy established by Wanda Group and Sinopec; it is at the forefront of reforms related to mixed-ownership economies, and it fully illustrates the principle that \"strength + vitality = competitiveness\". Since its commissioning in 2014, the first-phase acrylonitrile project with an annual production capacity of 260,000 tons has operated steadily and achieved good performance. Since the start of construction on the second-phase project last May, the Corull team has demonstrated a strong spirit of perseverance, focusing on its goals, overcoming difficulties, and working diligently to see things through. The project was completed in just 15 months, setting a new record for an acrylonitrile industry base with the highest degree of localization and the widest use of digital technologies. The full completion of the Phase II project for acrylonitrile by CCCC marks another step forward in deepening cooperation between the two parties. It will also help to upgrade the industry, creating a synergistic effect where \"1+1>2\", leading to mutual benefits and a win-win situation, and thus providing new impetus for the development of high-quality industrial clusters in the region. The Dongying Port Economic Development Zone firmly upholds the principle that projects are of top priority. It strictly implements the responsibility system for party and government leaders at the county level to oversee project development, coordinates efforts among various departments to form specialized teams for follow-up support, and actively helps to address practical difficulties, thereby effectively transforming education on the history of the Party into concrete actions to advance project construction.