Yueyang transfers 3,000 mu of land for the project to Hunan Petrochemical, and the pile testing work officially begins

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In early winter, the construction site of the 1 million tons per year ethylene refining and chemical integration project along with the associated oil refining upgrades in the Yueyang area was bustling with activity. Yueyang has transferred 3,000 mu of land for the project to Hunan Petrochemical, and the pile-driving works have officially commenced, marking another important milestone in the project’s development. The total investment in this project is 35.7 billion yuan, making it the largest industrial project in Hunan to date in terms of investment volume. Once completed and put into operation, it will make Hunan the largest ethylene refining and chemical integration complex in Central China, capable of meeting the demand for polyethylene-specific materials and fully replacing imports; it is expected to drive investments of over 150 billion yuan in related industries. The petrochemical industry is a top priority in the development of Hunan’s “4×4” modern industrial system. Ethylene, caprolactam, and others can be regarded as the cornerstones of the petrochemical industry. Yueyang is accelerating the integrated reform of Baling Petrochemical and Changling Refining & Chemical, thereby boosting the development of its key industrial sectors. The reporter visited the caprolactam production facility at Hunan Petrochemical; the plant was operating at full capacity with high productivity, and various technical and economic indicators were continuously improving. Since the beginning of this year, the cumulative production of caprolactam has exceeded 340,000 tons, with a 100% rate of high-quality products leaving the factory. The Hunan Petrochemical caprolactam plant is one of the key facilities in the project aimed at relocating, upgrading, and transforming the caprolactam industry chain. In May of this year, both production lines came online, doubling the annual production capacity to 600,000 tons, making it the largest facility of its kind in the world. To accelerate the development of the largest petrochemical industry hub in the central region, Yueyang has formulated a plan for the growth of this industry to a value of one trillion yuan. The Linxiang High-Tech Zone has added 5,444 mu of industrial land of three different types; the Yueyang Green Chemicals High-Tech Zone has been expanded by 21.7 square kilometers. The Yueyang Economic Development Zone plans to create an area of 11.35 square kilometers dedicated to chemical new materials and another 8.28 square kilometers for the manufacturing of chemical equipment. Three major chemical storage and port facilities, three major warehousing and road transport facilities, three major chemical storage and rail transport facilities, as well as chemical storage and logistics centers are being planned, with the goal of establishing this area as a hub for the distribution of chemical products in the central region. At present, Yueyang has 288 petrochemical enterprises above a certain scale, as well as 135 high-tech petrochemical enterprises at the provincial level or above. In the first 10 months of this year, Hunan Petrochemical achieved output value of 61.075 billion yuan and tax revenues of 9.698 billion yuan; Xingchang Shares had an output value of 2.326 billion yuan, representing a year-on-year increase of 8.32%.