Fujian Province Investing $14.3 Billion in Petrochemical Projects this Year

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Researched by Industrial Info Resources (Sugar Land, Texas)--Thirty-six petrochemical projects worth about $14.4 billion have been designated as key construction projects in Fujian Province this year, according to information disclosed at a symposium. Twenty of the projects, worth about $9.6 billion combined, are already under construction. The other 16 projects, worth $4.8 billion, were announced as new projects.

The largest of the petrochemical projects in construction is Fujian Petrochemical Company's $5.3 billion refining and petrochemical integrated project. It will upgrade the company's annual oil-processing capacity to 12 million ton a year (about 257,140 barrels per day) by constructing an 8 million ton-per-annum (TPA) refining unit, an 800,000 TPA ethylene project and a 700,000 TPA aromatic hydrocarbon unit. In addition, this project will include a 300,000-ton crude oil dock at Qinglanshan. An area has been designated for 600,000 cubic meters of oil tanking and 400,000 cubic meters of oil tanking. The first air separation unit should be ready for operation by June; the new oil-refining and aromatic hydrocarbon unit should be ready for a trial run by August; construction on the polypropylene, polyethylene and integrated gasification combined cycle units should be complete by October; and construction on the ethylene-cracking unit should be finished by December.

Other large scale petrochemical projects that are under construction and included in the Key Projects list are: $2.53 billion China National Petroleum and Chemical Corporation's (NYSE:SNP) (Sinopec) (Beijing) 5 million-ton heavy oil deep processing project, Fujian Petrochemical's 1,4-butylene glycol project and the fine terephthalic acid (TPA) project in Shishi City.

Some petrochemical projects to be started in 2008 in Fujian are: $571 million plant site moving for Fuzhou Yaolong Petrochemical Group, $333 million Phase I construction of Juli aromatic hydrocarbon production unit, and $571 million Yiheng acid low sulfur heavy oil integrated processing project.

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