150 million is enough to build a propane dehydrogenation project – this news is simply not credible at all
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On November 8, the groundbreaking ceremony for the C3 comprehensive utilization project at Zibo Haiyi Fine Chemicals Co., Ltd., part of Shandong Huifeng Petrochemical Group, was held. It is reported that this project is one of the first batch of selected projects from Shandong Province’s major project database for the transformation of old and new economic drivers. With a total investment of 146 million yuan and covering an area of 66 mu, its construction includes a propane dehydrogenation unit capable of producing 250,000 tons of propylene per year, a polypropylene production unit capable of producing 150,000 tons per year, a warehouse for storing polypropylene products, as well as various supporting infrastructure. Among them, the production of propylene from propane via dehydration uses UOP’s Oleflex process, which offers advantages such as low energy consumption, minimal environmental impact, small land requirement, and lower investment costs; the polypropylene plant employs the SPG process, a continuous process that boasts independent intellectual property rights and has been put into industrial use. Li Bo, President of HSBC Petrochemical Group, said that the C3 comprehensive utilization project is an important step for HSBC Petrochemical Group to extend its industrial chain and transition from a fuel-focused model to a fuel-chemicals focused one. Upon completion, the project will effectively facilitate HSBC Petrochemical Group’s transformation from a traditional fuel-based refinery into a company specializing in high-end petrochemicals, green chemicals, and new materials. Source: China National Petroleum News Center
146 million yuan is likely the cost for purchasing 66 mu of land; building a fence around it can be done later.
Once again, it’s the journalists who are blamed. According to the U.S. notation, it’s 1.46 billion USD
The typo is purely a mistake:lol:lol
More or less, don’t some private enterprises, when issuing tenders, give only a deposit of 10% and hold back the rest of the money for procurement, then delay paying the contractor once the goods arrive, and only then complete the project? Several large petrochemical projects do this exactly the same way.
Even for well-known private enterprises these days, at least 30% must be paid as a prepayment for the equipment; moreover, another 30% needs to be paid before delivery. In other words, at least 60% of the total cost must be paid by the time the equipment is installed, inspected, and put into use. For some special types of equipment (imported or specialized equipment), full payment is required before delivery...:lol