[Haichuan Project Updates] 40-billion-yuan Yongrong New Materials project in Putian, Fujian: Agreement signed for 2×1000,000 tons/year propane-to-propylene production

It is understood that the project follows an overall planning approach with phased implementation; in the first phase, a facility with an annual capacity of 1 million tons for producing propylene from propane, along with related new material production facilities, will be built. The world’s most advanced processing technologies will be employed, ensuring safety, stability, as well as energy efficiency and environmental protection. On June 8, Fu Dongyang, Secretary of the Putian Municipal Party Committee and Executive Vice Mayor, led relevant officials including Chen Jinzhi, Deputy Secretary-General of the municipal government, Wang Shiwen, Director of the Municipal Development and Reform Commission, and Zheng Jiaqing, Secretary of the Xiuyu District Party Committee, as well as Wu Huaxin, Chairman of Fujian Yongrong Holding Group, on a trip to Dongming Petrochemical Group in Shandong for inspections and discussions. They were given a warm reception by Li Xiangping, Chairman of the Board of Directors of Dongming Petrochemical Group.

As the holding parent company of Shandong Refining & Chemical Energy Group, Shandong Dongming Petrochemical Group is China’s largest local private oil refining enterprise and has enjoyed a renowned reputation in the industry for many years. Li Xiangping, the chairman of the board, explained that Shandong Dongming Petrochemical Group is a mega-petrochemical enterprise group that integrates crude oil processing, petrochemical production, international trade, international finance, and international logistics. Since 2007, it has been included in the list of the “Top 500 Chinese Enterprises” on a consecutive basis. After years of transformation in the chemical industry, developing large-scale chemical projects along the coast has always been the development strategy of Shandong Dongming Petrochemical Group. The Shimen’ao Chemical New Materials Park in Xiuyu, Putian, boasts excellent deep-water port facilities, and the chemical new materials industry cluster that has gradually emerged there is fully in line with the development strategy of Dongming Petrochemical in Shandong.

At the signing ceremony, Wu Huaxin, chairman of Yongrong Holding Group, spoke on behalf of the partnering companies and enthusiastically explained the significance of this project collaboration. He said that Yongrong Holding Group is a large-scale industrial group whose main business focuses on petrochemical nylon new materials, and it integrates supply chain and financial services; the group has business segments such as the aromatics business, caprolactam business, nylon new materials business, and supply chain business. Having been active in the Shimen’ao industrial park in Putian for many years, Yongrong Holding Group has completed and put into operation the first phase of its facility with an annual production capacity of 200,000 tons of caprolactam. The construction of the second phase, with an annual capacity of 400,000 tons, has also been fully launched; the company is thus a leading chemical enterprise in Putian. After years of development, Yongrong has become one of the world’s leading suppliers of nylon and providers of integrated solutions for new petrochemical nylon materials. It is also ranked among the top 500 Chinese enterprises, the top 500 Chinese manufacturing enterprises, and the top 500 Chinese petroleum and chemical enterprises. The cooperation with Shandong Refining & Chemical Energy Group on this 2×1000,000 tons per year propane-to-propylene and downstream new materials project involves a total investment of around 39.6 billion yuan. Two production facilities capable of processing one million tons of propane per year to produce propylene and related new materials are planned to be built, along with associated docks and storage tanks. Once completed and put into operation, this project will greatly contribute to the economic development of Putian.

Fish Boss, take a look at my new post – what’s that?

In which section was your new post published?