Shenghong Refining invests 2.85 billion yuan to build a 1 million-ton/year acetic acid plant

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On July 31, 2023, the official website of Shenghong Petrochemical released the first public notice regarding the environmental impact assessment for Shenghong Refining & Chemicals (Lianyungang) Co., Ltd.’s 1 million tons per year acetic acid production project, inviting suggestions and opinions from all sectors of society on the details of the project construction. 　　Project Name: SHENGHONG PETROCHEMICAL (LIANYUNGANG) CO., LTD. 1 million tons/year Acetic Acid Project Project Type: New construction Location: Within the reserved site for the SHENGHONG PETROCHEMICAL integrated project in the Petrochemical Industry Base, Xuwei New Area, Lianyungang City, Jiangsu Province. 　　Total investment: 2,848.2501 million yuan. Project overview: The scale of this project is 1 million tons per year of acetic acid, which will supply the acetic acid raw material for the company’s ongoing integrated refining and chemical processing project with a capacity of 16 million tons per year for oil refining, 2.8 million tons per year for aromatics, and 1.1 million tons per year for ethylene and its downstream derivatives. Using Shenghong’s own purified syngas to produce acetic acid not only completes the industrial chain of the Shenghong Group but also helps to optimize raw material costs, reduce production, transportation, and retail sales expenses, improve the utilization rate of facilities and the company’s adaptability to market changes. This enhances the overall profitability of the company, improves the structure of the industry, increases the interconnectivity within the industrial chain, and contributes to a balanced and healthy development of the regional economy.