[Haichuan Chemical Salary News] With an investment plan of 150 billion yuan, Hengli Petrochemical is beginning to develop coal chemical industries in Yulin
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From March 26th to 28th, Chen Jianhua, Chairman and President of Hengli Group, led a team of over 30 people to Yulin to conduct inspections, with the aim of advancing the construction of Hengli Group’s full-industry-chain coal chemical project that transforms coal into fabric, involving a total investment of 150 billion yuan. Dai Zhengshe, Deputy Director of the Shaanxi Provincial People’s Congress and Secretary of the Yulin Municipal Party Committee, and Li Chun, Mayor of Yulin, met with Chen Jianhua and his entourage. Zhang Shengli, Vice Mayor of Yulin, Sun Shouyang, Director of the Yushen Management Committee, and Lang Jun, Head of the Yangzhou delegation in Yulin and Deputy Secretary-General of the city’s government, accompanied them on the inspection and discussions.
During their visit to Yuyu, Chen Jianhua and his party inspected the Dabaochang area of the Yushen Industrial Zone, the Qingshui Industrial Park, the proposed sites for the Textile and Fashion Industry Park, the proposed sites for the Coal Chemical Industry Park projects, the mining areas in the fourth-phase planning zone of the Yushen mining district, as well as the Yushuwan Coal Mine. On the 26th and 27th, Yulin City and Hengli Group held discussions and negotiations regarding the investment agreement, covering specific matters such as resource allocation, factor support, and the establishment of a company, and reached an agreement. On the 28th, the two sides held a symposium. Dai Zhengshe extended a warm welcome to Chen Jianhua and his party, and expressed his gratitude to Hengli Group for its investment in Yulin and its contribution to the region’s economic development. He pointed out that Yulin boasts strong resource advantages and a solid industrial foundation. The coal chemical industry chain project undertaken by Hengli Group represents a proactive effort to implement the **Energy Revolution strategy; it is also a major initiative for industrial cooperation between Su and Shaanxi as part of the **Western Development strategy. Yulin will certainly provide full support and necessary services to foster the growth of high-end energy chemicals in the region, thereby contributing to the high-quality development of Shaanxi’s economy.
Chen Jianhua said that Hengli Group actively responds to **strategic development and promotes industrial cooperation between Jiangsu and Shaanxi. The Hengli (Yulin) coal chemical industry integrated chain project will make full use of the local advantages in coal resources, with a focus on building coal mines, coal gasification facilities, as well as projects related to methanol, olefins, chemicals, fine chemicals, and new materials. The planned annual production capacity for methanol is 12 million tons, all of which will be converted locally into downstream products such as fine chemicals, polyesters, and textile products, thereby creating a complete industrial chain that enables the transformation from \"a drop of oil into a piece of cloth\" to \"a lump of coal into a piece of cloth\", thus making full use of the coal resources.
The interest of Hengli in the coal chemical industry is not limited to Yulin. On December 1, the signing ceremony for the memorandum of investment cooperation between the People’s Government of Guizhou Province and Jiangsu Hengli Group Co., Ltd. was held in Guiyang. Hengli Group plans to invest 26 billion yuan in Guizhou over three years. Once all the projects are completed and put into operation, it is expected to generate revenue of 30 billion yuan and profits and taxes of 3 billion yuan. It is understood that the investment plans of Hengli Group include: (1) building a regional headquarters for Hengli Group in Guiyang, to serve as a hub for the group’s activities in trade, logistics, and settlement in Guizhou and even the southwestern region ； (2) Build a Hengli Textile New Materials Industrial Park in Chishui City, Zunyi City, to establish Hengli Group’s production base for high-end fiber new materials and high-end fabrics in Guizhou Province ； (3) Leverage the company’s strengths in areas such as wine marketing to drive industrial transformation and upgrading, and contribute to the improvement and modernization of Guizhou’s traditional key industries ； (4) Conducting feasibility studies on investing in coal chemical projects in Guizhou, etc.
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Arrange the industrial chain from downstream to upstream
“\"Turning coal into cloth\" – it’s a grand concept, and Sinopec as well as Shenhua have not yet managed to achieve this, although I believe they have the capability to do so.