Polypropylene Facility is Launched in Daqing City, Heilongjiang Province

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Researched by Industrial Info Resources (Sugar Land, Texas) -- According to information from PetroChina (Beijing), one of China's largest petroleum industry players, a 300,000-ton per year polypropylene facility was launched in Daqing City, Heilongjiang Province, Northeast China in July.

This is the second 300,000-ton per year polypropylene facility in Daqing. The first one, with a total investment of $160 million was launched in May of 2005. It went into full production in July of 2005 and produced 110,000 tons of polypropylene by the end of 2005. Designated sales income for the first facility is $265 million and its after-tax profits are projected at $40 million.

Both facilities were constructed by PetroChina Daqing Refining and Chemical Company (Daqing City, Heilongjiang Province), a branch company of PetroChina.

With fixed assets worth of $1.4 billion and a sales income of $2.6 billion, PetroChina Daqing Refining and Chemical Company has 30 sets of production facilities. It can process 6 million tons of crude oil per year, produce 200,000 tons of lubricant oil, 100,000 tons of olefins, 100,000 tons of acrylamide, 30,000 tons of PVN (polyacrylonitrile fiber), and 11,000 spindles of wool.

During recent years, in order to revitalize the old industrial bases in Northeast China, the Chinese government has launched many big projects in Northeast China. Daqing, as one of the important old industrial bases, is hosting some of the major expenditures. Two are listed as follows: 1) Expansion of PetroChina Daqing branch’s ethylene production capacity, which is expected to hit 900,000 tons per year by 2010. Until then, the downstream plants can also produce one million tons of synthetic resin per year. 2) Construction of a 300,000-ton per year compound fertilizer plant, which is now under the management of PetroChina Daqing branch. This plant attracted an investment of $20 million and went into production at the end of 2003. Its designated sales income is $55 million and an average annual net profit of $30 million.

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