Satellite Chemicals: The second phase of Lianyungang Petrochemical Project is expected to be completed and put into operation by mid-2022!

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The main equipment for the main unit of the second-phase project of Lianyungang Petrochemical has been installed, and construction is progressing smoothly as planned; it is expected to be completed and put into operation by mid-2022. The Lianyungang Petrochemical Comprehensive Processing and Utilization Project has a total investment of 38.36 billion yuan, and it is a key leading project in the Lianyungang petrochemical industry base. The project will be constructed in two phases, and upon completion and operation, it is expected to generate annual revenue of around 40 billion yuan and profits and taxes of around 13 billion yuan. It is understood that once the project is fully completed, it will establish China’s largest demonstration base for a diversified raw material-based olefins industry in the Xuwu New Area. It drives the downstream fine chemical industry chain, giving rise to an industrial structure characterized by clusters of new chemical materials and high-end fine chemicals, thereby creating the conditions for establishing high-end new material production bases within the petrochemical complex. This project utilizes the world’s most advanced manufacturing technologies. Once completed and put into operation, it will **reduce China’s reliance on imports of high-end chemical products in the C2 industry chain. World-leading concepts were integrated into the project from its design phase, enabling the facility to boast high conversion rates, short production processes, low energy consumption, and low emissions – all of which enhance its competitive advantages. This fully reflects the green, innovative, and intelligent strategic vision advocated by Satellite.