Sinopec's Zhenhai 1 Million-Metric-Ton Ethylene Project Begins Operation in Ningbo City, Zhejiang Province

---

Researched by Industrial Info Resources (Sugar Land, Texas)--A ceremony for the 1 million-metric-ton ethylene project of Zhenhai Refining & Chemical Company (ZRCC) (Ningbo, Zhejiang), a regional subsidiary of China Petrochemical Corporation (Sinopec Group) (Beijing), was held in the National Petrochemical Industry Base of Ningbo City, in China's Zhejiang province, on December 28, 2009. This is the largest and the most advanced ethylene project to be commissioned in China.

Among other leaders and representatives attending the ceremony were Zhang Kehua, the vice president of China Petroleum & Chemical Company Limited (Sinopec Limited) (Beijing) (SHA:600028), which is the listed flagship of Sinopec Group, and Meng Gang, the vice secretary general of the People's Government of Zhejiang province, Sinopec Group announced on December 30, 2009.

ZRCC's 1 million-metric-ton ethylene project is a national key construction project and the largest industrial investment project in the Zhejiang province. The $3.4 billion project is comprised of 10 sets of main devices, as well as associated common and support facilities. Upon completion, ZRCC will have an annual crude oil-processing capacity of 23 million metric tons, and an annual ethylene output of 1 million metric tons, ranking it top in China. Coordinated development in oil refining and chemical business is favorable to achieve optimal allocation in resources and the maximization of value.

Construction of the project began in November 2006. Despite several large-scale chemical projects under construction in China during the construction period, it took only 37 months from the laying of the cornerstone to the date of commissioning, a milestone in the history of large-scale chemical project construction in China.

As reported, the project could add more than $2.9 billion of sales income to ZRCC, bring more than $14.3 billion of downstream production value every year, and greatly promote local economic development upon completion.

Industrial Info Resources (IIR) is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy related markets. For more than 26 years, Industrial Info has provided plant and project opportunity databases, market forecasts, high resolution maps, and daily industry news.