February 28, 2018 Hengli shares announcement at night, in order to further enhance the competitiveness of enterprises, make full use of Hengli refinery '20 million tons / year refining and chemical integration' project byproducts, to maximize the advantages of refining and chemical integration, the company subordinates Wholly-owned subsidiary of Hengli Petrochemical (Dalian) Chemical Co., Ltd. (hereinafter referred to as 'Hengli Chemical') intends to build 1.5 million tons / year ethylene project in Changxing Island Hengli Petrochemical Industrial Park in Dalian.
The total investment of the project is about RMB20,977,910,000 (including foreign exchange of USD608,340,000, excluding current capital of RMB1,112,000,000), of which the construction investment is RMB19,863,280,000 (the final investment is based on the actual investment in the project) Source of funds Company With funds and self-financing.
The construction site of the project is located at the sea side of the west end of Changxing Island Economic Zone in Dalian with a construction period of 2 years. The project will consist of 1.5 million tons / year of steam cracking unit and 12 downstream chemical plants (including the refineries' Fuel gas equipment); supporting public works system includes some raw materials, intermediate products, product tank area, air separation, air pressure, circulating water, power supply system in the area, part of the fire protection system; facilities include wastewater pretreatment, flare system Etc .; thermoelectric and some public facilities, storage and transportation facilities under construction projects.
At present, the project is carrying out feasibility studies, environmental impact assessment and other preparatory work before the approval process package selection and other related work.
The project can make full use of self-produced raw materials such as refinery dry gas and n-butane produced by Hengli Refining & Chemical's 20 million tons / year refining and chemical integration project to maximize the advantages of refining and chemical integration and upgrade the Company Profitability.At the same time, the chemical raw materials or products such as ethylene glycol, polyethylene and polypropylene produced by this project can produce better economic benefits and meet the market demand of the company for its own use and the surrounding areas, forming a promising petrochemical Advantage of the industrial chain, Dalian's economic status also has long-term improvement.
According to "Feasibility Study Report of 1.5 Million Tons / Year Ethylene Project of Hengli Petrochemical (Dalian) Chemical Co., Ltd." issued by Sinopec Engineering and Construction Co., Ltd. for this project, the price of the said product is calculated by using four price systems. The main financial indicators are as follows :
It is reported that 'Constant refining and refining 20 million tons / year refining and chemical integration project' plans to invest 56.2 billion yuan, is the earliest construction of private large refining project one of its refining section with 4.6 million tons / year petrol, 1.6 million Tonne / year diesel oil, 3.7 million ton / year kerosene and 4.5 million ton / year para-xylene etc. The project is expected to be put into trial production in the fourth quarter of this year and will be put into production in the first quarter of 2019. The project is expected to generate revenue of 91.6 billion yuan Yuan, the average net profit of 12.88 billion yuan.At present, the project has completed the construction of all underground pipe networks and infrastructure, large-scale equipment is gradually entering the installation.
From the relevant information, both the 1.5 million tons / year ethylene project, or '20 million tons / year refining and chemical integration project' are promising. In October 2016, the Ministry of Industry released the "petrochemical and chemical industry development plan 2016-2020) pointed out that during the 12th FYP period, China's domestic bulk feedstocks including bulk raw materials such as ethylene, paraxylene and ethylene glycol, as well as high-tech chemical raw materials and domestic high-end specialty chemicals During the 13th FYP, China's petrochemical industry will comprehensively consider the supply of resources, environmental capacity, safety and security, and industrial base and other factors to promote the construction of the seven major petrochemical industry bases and major projects in an orderly manner and to enhance the protection of basic products such as olefins and aromatics Ability to improve the level of integration of refining and chemical.