Hengli Shares Plans To Build 1.5 Million Tons Of Ethylene Project In Dalian
China's large petrochemical company--Hengli shares announced on Tuesday that its wholly-owned subsidiary, Hengli Petrochemical (Dalian) Chemical Co., Ltd. plans to build an annual output of 1.5 million tons of ethylene in Dalian with a total investment of 20.978 billion yuan.
The announcement shows that the project funds come from the company's own funds and self-raised funds. The construction period of the project is two years. The main equipment includes 1.5 million tons/year steam cracking unit and 12 sets of chemical equipment and supporting public works in the downstream. The thermoelectric power and some public facilities, storage and transportation facilities rely on the refining and chemical projects under construction.
According to the announcement, in order to further enhance the competitiveness of enterprises, and make full use of the by-products such as refinery dry gas and n-butane of Hengli Refining & Chemical Co., Ltd. to maximize the advantages of refining and chemical integration, Hengli Co., Ltd. decided to build the above ethylene. project. The chemical raw materials or products such as ethylene glycol, polyethylene and polypropylene produced by the project can produce better economic benefits and meet the market demand of the company for its own use and surrounding areas, forming a promising industrial chain of petrochemical industry with promising prospects.
Hengli shares announced earlier that it will issue additional shares to major shareholders, acquire Hengli Investment and Hengli Refining and Chemical at a price of RMB11.5 billion, and raise funds of not more than RMB11.5 billion for the construction of 20 million tons/year of refining. Integration project. At present, the plan for the acquisition of assets by its additional shares has been implemented, and the plan for raising matching funds is progressing.
Hengli Refining and Chemical's large-scale refining and chemical project has a total investment of 56.2 billion yuan, which is the earliest private large-scale refining and chemical project in China. The project takes the 4.5 million tons/year aromatics unit as the core and constructs 16 sets of refinery production units. The project is an important part of Hengli's complete integration of the industrial chain integration of “aromatics – PTA (pure terephthalic acid) – polyester – civil silk and industrial silk”.
Hengli's recent large-scale projects continue, recently announced that its grand company Jiangsu Hengke New Materials Co., Ltd. plans to invest 12.3 billion yuan to build a 1.35 million tons of multi-functional high-quality textile new materials project in Nantong, Jiangsu Province. .
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