The total investment in Lianyungang Satellite Chemical for the construction of the high-end new material industrial park for the comprehensive utilization of α-olefins amounts to 26.6 billion yuan
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On November 20, the high-end new materials project of Lianyungang Petrochemical Co., Ltd. received approval for registration. On June 19, 2023, Satellite Chemical announced the construction of a high-end new materials industrial park for the comprehensive utilization of alpha-olefins in the Xuwei New Area of Lianyungang. The project officially commenced construction on June 24, 2024, with a total investment of 26.6 billion yuan; it is located in the petrochemical industry park of Xuwéi New Area in Lianyungang. The project is carried out in two phases; the first phase requires an investment of around 12.15 billion yuan, while the second phase focuses on the development of core products such as high-end polyolefin elastomers. Phase 1 includes 2 sets of 100,000 tons/year α-olefin (LAO) plants, 1 set of 900,000 tons/year polyethylene plant, 1 set of 450,000 tons/year polyethylene plant, as well as a 120,000 tons/year butadiene extraction plant, a 260,000 tons/year aromatic processing complex, and supporting 2 million tons/year raw material processing facilities. It also involves the construction of storage facilities, LNG storage tanks and other auxiliary facilities, as well as off-site pipeline projects.
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