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On November 8, Fujian Fuhai Chuang Petrochemical Co., Ltd. and Sinopec Guangzhou Engineering Company concluded the contract for the BEPC turnkey project related to the technical upgrade of Fuhai Chuang’s facilities, specifically the design, procurement, and construction of a 1.5 million tons per year fluidized bed residue hydrocracking unit, through an online cloud signing process. It is reported that as a prerequisite for the implementation of Fujian Gulei’s 1.5 million tons per year ethylene production and downstream processing complex project (referred to as the Sino-Saudi Gulei Ethylene Project), the Fuhai Chuang raw material adaptation improvement project commenced operations in the second quarter. The project is being constructed by Fuhai Chuangtou with an investment of 9.34 billion yuan; it will involve the allocation of an additional 365.77 mu of land. Technical upgrades to adapt the production facilities to different raw materials will be carried out, with full operation planned for June 2025. The project plans to build new hydrocracking, jet fuel refining, delayed coking, and dry gas separation units; and to upgrade the atmospheric and vacuum distillation, continuous reforming, aromatics complex, PSA, and sulfur units. Among them, once the 1.5 million tons per year fluidized bed residue hydrocracking unit is put into operation, it will be able to supply 300,000 tons per year of ethylene as raw material for the Zhongsha Gulei ethylene project, while also increasing the added value of the company’s vacuum residue products. It is reported that in April this year, after evaluating bidding proposals, conducting technical investigations, comparing different bidding methods, and holding an open bidding process, Fuhai Chuang ultimately selected Guangzhou Engineering Company as the general contractor for the BEPC project. In June, the Sino-Saudi Gulei Ethylene Project, with a total investment of 42.07 billion yuan, was approved by the Fujian Provincial Development and Reform Commission, marking the official launch in Gulei of the largest Sino-foreign joint venture project to date in Fujian Province. This project is jointly developed by Fujian Energy Petrochemical Group Co., Ltd. and the global petrochemical giant SABIC. It involves the construction of a complex at the Gulei Petrochemical Complex capable of producing 1.5 million tons of ethylene per year, along with downstream processing facilities; 19 world-leading process technologies will be utilized in this project. Simultaneously with the project signing, Fuhai Chuang, ERICH (Deyang) Heavy Equipment Co., Ltd., Sinopec Guangzhou Engineering Company, and Nanjing Sifang Chemical Equipment Supervision Co., Ltd. held a kick-off meeting for the manufacturing and supervision of the reactor for the 1.5 million tons per year fluidized bed residue hydrogenation unit in Deyang, Sichuan. The meeting conducted in-depth discussions on the production plan, progress, and quality assurance measures for the reactors, and finalized the delivery timeline for them.