[2026 Today’s News] Hengyi Petrochemical announced a 25.7 billion yuan investment in the construction of a 2.4 million tons/year coal-to-ethylene glycol project in Turpan, Xinjiang, breaking the coal chemical monomer investment record in the new year
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1️⃣ Hengyi Petrochemical Xinjiang Turpan 2.4 million tons/year coal-to-ethylene glycol project💰 Total investment: 25.7 billion yuan📍 Region/province to which it belongs: Northwest (Turpan, Xinjiang) ⏳ Construction cycle: 3 years, expected to be put into production in the first half of 2028
📋 Project Overview: Hengyi Energy Technology (Turpan) Co., Ltd., a wholly-owned subsidiary of Hengyi Petrochemical, invested and constructed an annual production of 2.4 million tons of high-quality fiber to produce ethylene glycol from coal. It is equipped with gasification equipment, purification equipment, H2/CO separation equipment, ethylene glycol equipment, etc. It is located in the Coal-based New Materials Cycle Industrial Park of Turpan Economic Development Zone.
🏆 Current official status: Approved by the Board of Directors 📈 Latest update on progress: Announced on the evening of May 15, 2026, the board of directors reviewed and approved the investment proposal, and the source of funds is its own and self-raised funds.
💡 Project significance: After the completion of the project, Hengyi Petrochemical will form an industrial pattern in which "oil, coal and cloth" go hand in hand, achieve diversification of sources of processing raw materials and integration of product raw materials, get rid of dependence on a single crude oil, and enhance the stability of profits and risk resistance of the entire industry chain.
The 25.7 billion yuan super project releases the procurement demand for core equipment such as gasifiers, purification devices, ethylene glycol main reactors, and large air separation equipment； The EPC general contracting market is highly competitive but huge in size ； The supply demand for coal-to-ethylene glycol process packages and catalysts is clear.
The following relevant information is for reference: 2️⃣ Hengyi Petrochemical Hubei Jingzhou 300,000-ton recycling new material industrial demonstration project💰 Total investment: 1 billion yuan📍Region/province to which it belongs: Central China (Jingzhou, Hubei) ⏳ Construction cycle: 18 months
📋 Project Overview: Using the company's self-developed exclusive patented technology, waste textiles are used as raw materials to produce high-performance new polyester materials and functional special fibers. The products can be widely used in clothing, shoes and hats, household items, transportation and other fields.
📈 Latest update progress: The board of directors reviewed and approved the project on May 15, 2026. The project has obtained land, completed project filing, energy conservation assessment, environmental impact assessment and other pre-approvals.
Project significance: response * * "The "carbon neutrality, carbon peak" policy and the call for recycling waste textiles have diversified the sources of raw materials for processing, effectively reduced dependence on a single crude oil resource, and enhanced the ability to resist risks.
Procurement needs for waste textile recycling pre-treatment equipment, depolymerization and purification equipment, recycled polyester polymerization equipment, etc.； Environmental protection management facilities supporting projects ； Develop downstream application markets for recycled materials.
7️⃣ Hengyi Petrochemical Subsidiary Guangxi Baise Chemical New Materials Integration Project💰 Total Investment: 4.5 billion yuan 📍 Region/province to which it belongs: South China (Baise, Guangxi) ⏳ Construction cycle: Construction will start in the fourth quarter of 2025📋 Project overview: The new chemical materials integration project is under civil construction.