[Haichuan Chemical News] Investment of 10 billion yuan in Guoqiao Quan Gang’s petrochemical PDH and polypropylene project officially launched
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On April 24, the first installment of the registered capital for Quanzhou Guoheng Chemical Co., Ltd., the main company behind the Guojiao Quangang Petrochemical Project owned by a Taiwanese enterprise and located in the Quangang Petrochemical Park in Quanzhou City, was received in the amount of 759.6 million yuan. This funds will be used for project investment and the subsequent construction work, laying a solid foundation for the effective progress of the project’s preliminary stages. Guoqiao Company was the first enterprise in Taiwan to produce styrene monomer, and it is the only company on the island that manufactures nylon 66. “At the beginning of March, after the cloud signing of the project, we promptly took action to facilitate tasks such as establishing a registration company in Quangang and securing the necessary capital, in order to get ready for the preliminary stages of the project. ”A relevant official from the Management Committee of Quangang Petrochemical Industrial Park said. It is understood that on March 2, following the \"cloud signing\" of the Taiwan Guoqiao Propane Dehydrogenation and Polypropylene project, which involves a total investment of 50 billion New Taiwan dollars, in Fuzhou, Quanzhou, and Kaohsiung in Taiwan, the management committee of the Quangang Petrochemical Park promptly assisted the project owner with tasks such as registering the project at the company located in Quangang. Given that the owners of the Guojiao projects faced difficulties in handling relevant matters on-site during the pandemic, the park assigned dedicated staff to provide these companies with comprehensive and precise support. They maintained regular contact with the owners via phone, WeChat, video calls, etc., helped them prepare application forms, company charters, and other materials required for company registration, and coordinated with various relevant departments on multiple occasions to facilitate a streamlined approval process for these projects.
On April 10, Quanzhou Guoheng Chemical Co., Ltd. successfully obtained its business license, marking the official establishment of the main company for this project in Quangang. It is reported that the propylene dehydrogenation and polypropylene project in Taiwan’s Guoqiao has been established in the Quangang Petrochemical Industrial Park. This project will play a positive role in promoting the development of downstream petrochemical industries related to propylene and polypropylene; it represents a key initiative aimed at extending, strengthening, and improving the petrochemical industry chain. Once operational, the project is expected to generate an output value of 10 billion yuan and annual tax revenues of 1 billion yuan. This project is in line with the global trend toward the use of lighter-grade raw materials such as olefins. It offers advantages such as low carbon emissions and environmental friendliness, high yields, and simple production processes, and can drive the development of industries such as medical plastics and food-grade plastic products. The investment in this project will also help to develop a industrial chain of \"natural gas → propylene → propylene oxide → polyether\" in the Quangang Petrochemical Park, with a total investment of over 20 billion yuan. This will make a significant contribution to the economic and social development of Fujian Province and Quanzhou City, as well as to promoting the high-quality development of Fujian’s manufacturing sector.
Should it be built in the original location of Tenyo?