Zhejiang Tongkun Holding Group and Shanghai Baosteel Gas Company’s annual production of 1.2 million tons of ethylene glycol

Thread Content

On the morning of October 18, the signing ceremony for the syngas cooperation agreement regarding a project to produce 1.2 million tons of ethylene glycol per year between Zhejiang Tongkun Holding Group and Shanghai Baosteel Gas Company, as well as the steam supply agreement between Anhui Youshun New Materials Co., Ltd. and Shenwan Hefei Lujiang Power Generation Co., Ltd., was held at the headquarters of Tongkun Group in Tongxiang, Zhejiang. The chairman of Tongkun Group, the deputy secretary of the Lujang County Party Committee, the chairman of Shanghai Baosteel Gas Co., Ltd., the head of the Planning and Operations Department at Shenwan Energy Co., Ltd., the deputy general manager of Shenwan Hefei Lujang Power Generation Co., Ltd., as well as the general manager of the project under consideration and the general manager of Anhui Baolu Industrial Gas Co., Ltd., attended the signing ceremony and signed the agreements on behalf of their respective parties. The successful signing of these two agreements marks the full launch of the Lujiang project for the annual production of 1.2 million tons of ethylene glycol along with the associated synthesis gas, and it also signifies that the Longqiao Chemical Industrial Park has entered a new phase of development. The project for producing 1.2 million tons of ethylene glycol per year from syngas, which was signed under this agreement, is located in the Longqiao Industrial Park in Lujiang County. The total land area allocated for this project is approximately 1,800 mu. It is engaged in the research and development, production, and sales of technologies related to the conversion of syngas into ethylene glycol. By constructing facilities such as gasification units, air separation units, DMO synthesis units, ethylene glycol synthesis units, distillation units, substations, and water treatment systems, the project will be able to achieve an annual production capacity of 1.2 million tons of ethylene glycol from syngas. Zhejiang Tongkun Group is a large listed joint-stock company whose main business involves the production of PTA, polyester, and polyester fibers; it has been ranked among China’s top 500 enterprises for 18 consecutive years ； Shanghai Baosteel Gas is a large-scale specialized company that integrates the construction, production, management, and sales of industrial gas projects. It is a joint venture between the Hong Kong-based Taeman Investment Group and Baosteel Metal, which is part of China Baowu Steel Group, a company listed among the world’s top 500 enterprises. The two companies have joined forces to invest 11.4 billion yuan in Lujiang to jointly build a project that will produce 1.2 million tons of ethylene glycol per year, along with the necessary syngas.