Shandong Yulong Petrochemical Company’s application to use marine resources for a petrochemical downstream and extended industrial chain project costing 117.8 billion yuan has been accepted by the Ministry of Natural Resources

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The application by Shandong Yulong Petrochemical Company for the use of sea areas for its downstream petrochemical projects and related industrial chains has been accepted by the Ministry of Natural Resources. On July 30, 2025, the website of the Ministry of Natural Resources indicated that it had recently accepted applications from Shandong Yulong Petrochemical Co., Ltd. for the use of sea areas for such projects, and it published the reports related to the assessment of these sea area uses. The public display period was from July 18 to July 31, 2025, which is 10 working days. According to the sea area use assessment report, the petrochemical downstream and value-added chain expansion project of Shandong Yulong Petrochemical Co., Ltd. relies on the chemical raw materials produced by the Yulong Island integrated refining and chemical complex (Phase I), including ethylene, propylene, butadiene, xylene, benzene, toluene, ethylene oxide, styrene, ethylene glycol, PX, etc., to carry out downstream petrochemical processing operations and expand the industrial chain, thereby producing a variety of high-value-added new materials and chemicals. The project covers an area of 644.2828 ha. Within the site area of the project, the site command post for Phase 1 of the Yulong Island refining and chemical integration project occupies 2.8214 ha, while the concrete mixing plant of Longkou Nanshan Commercial Concrete Co., Ltd. covers 2.1066 ha. Therefore, these already-allocated areas must be excluded from the area applied for this time, leaving an applicable sea area of 639.3548 ha. According to the project description, the construction period is approximately 2 years and 4 months. The total investment in the project amounts to 117,857,597.0 million yuan. During the operation phase, the annual operating income is 88,254,737.2 million yuan (excluding taxes), the annual total profit is 13,464,961.3 million yuan, and the annual net profit is 10,098,721 million yuan. Upon completion, the project will provide employment opportunities for 7,189 people.