|
ⅠBrief Introduction to the Project
1. Name of the Project: 610,000 T/Y Ethylene Expansion and Auxiliary Project
2. Total Investment: RMB 12.3 billion
3. Survey of the Project:
(1) Product Name and Scale: Ethylene expansion from 160,000 T/Y to 610,000 T/Y; accompanied with byproducts such as 300,000T/Y polyethylene (PE), 225,000T/Y polypropylene (PP), 100,00T/Y polystyrene (PS). In the mean time, we will carry out auxiliary projects of 5 million T/Y crude oil refinery (including 5 million T/Y atmospheric and vacuum distillation unit, 1.8 million T/Y hydrocracking unit, 1.2 million T/Y delayed coking unit, 500,000 T/Y reforming and 2 million T/y diesel oil hydrofining unit, etc.).
(2) Material Supply: Crude oil required by the project is 5 million T/Y, which will be imported by China North Industries Group Corporation through Jinzhou Port.
(3) Production Technology: The sequential separation process shall be used. Firstly the naphtha shall be cracked deeply to make the separation of ethylene, propylene, mixed C4 and cracked gasoline etc. and then the ethylene and propylene are polymerized to produce PE, PP and mixed C4 for the extraction of butadiene. The cracked gasoline is hydrogenated and then to make the extraction of aromatics.
(4) Measures of Environmental Protection: The requirements of environmental protection can be satisfied by auxiliary waste water treatment unit with the capacity of 50,000 T/Y, and by existing environmental protection facilities of Huajin Group.
4. Market Analysis: In 2004, domestic ethylene equivalent consumption quantity is 17.3 million tons and the self-support rate of ethylene reached 36%. In recent years a trend of increase at high speed has been maintaining for polyolefin resin, as the downstream product of ethylene with the gap in Chinese market always maintained at about 40%, especially the special resins with high performance are mostly to be imported. It’s forecast that the demanding of polyolefin resins domestically in the future 5 years shall be increased at the average rate of about 10.3% per year. The supplying cannot meet the demands in domestic market for a long period. 150,000 T/Y ethylene produced by the unit is used for the production of ethylene oxide and glycol by North Company of China North Industries Group Corporation. Styrene is used for the production of ABS by the Group itself, and diesel oil is for sale by Northeast Company of PetroChina.
5. Economic Benefit Analysis:
(1) Total Investment: RMB 12.3 billion Yuan (including RMB 620 million of interest occurred in construction period).
(2) Annual Newly-Added Sales Revenue: RMB 18 billion
(3) Annual Profit After Tax: RMB 1.58 billion
(4) Static Investment Payback Period: 8 years (including construction period)
6. Project Progress: Already listed in the "National Debt Plan of Old Industrial Base Revival in Liaoning"; overall design has been completed; three supplies and one leveling has been finished.
7. Way of Cooperation:
Conditions Contributed by Chinese Part: Existing 160,000 T/Y ethylene and associated units, public facilities and funds.
Conditions and Investment Proportion contributed by Foreign Part: funds, investment proportion is negotiable.
Ⅱ.Brief Introduction to Chinese Partner:
1. Name: Liaoning Huajin Chemical Group
2. Type of Ownership: Joint－stock
3. Scope of Business: Chemcial fertilizer production, petrochemical, refinement chemical, plastics processing and trade. The total assets are RMB 9.749 billion
4. Address: Shuangtaizi District, Panjin City, Liaoning Province.
5. Number of Employees: 11098 staff, which includes 778 staff with middle professional titles and 186 staff with senior professional titles.
6. Annual Sales Revenue: 5.715 billion Yuan in 2005
7. Marketing Network: Market at home and abroad
8. Credit Rating: AA
9. Contact Unit: Liaoning Panjin Industrial Project Planning Office
Contact Person: Cui Xuehui
Telephone and fax: 0086-427-2816611
E-mail: lpcxh@126.com
Liaoning Huajin Chemical Group Contact Person: Yu Guohong
Telephone: 0086-427-5856678
Fax: 0086-427-5856199
|
