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Industry News | Time: May 17 2019 6:02PM
Hengli starts full production of the refining and chemical integration project
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In the Changxing Island of Dalian, one of China's seven major petrochemical industrial bases, the full production ceremony of the world's leading petrochemical project - Hengli Petrochemical's 20 million tons / year refining and chemical integration project was held.

Wang Xiang, Wang Qinghua and Wang Yibing, leaders of Suzhou City attended the event.Hengli's 20 million tons/year refining and chemical integration project is the first major private refining and chemical project listed in the State Council document, covering an area of ??15 square kilometers. It is currently the largest refining and chemical integration project in China.

Chen Jianhua, chairman of Hengli Group, said that Hengli has the confidence and determination to shoulder the responsibility to build a benchmark for the global petrochemical industry in the new era.

                Chen Jianhua, Chairman of Hengli Group

Hengli has adopted the most advanced processing routes and world-class technology, and purchased the equipments and materials from top three suppliers in the global industry, and implements the construction of the highest quality standards.

Hengli used the fluidized bed hydrocracking technology for the first time. Crude oil was processed most efficiently and fully utilized. The utilization rate of crude oil increased by 5 percentage points, and the production of high value-added chemicals increased by more than one million tons, which reduces the dependence on imported crude oil. Globally, Hengli is the first to apply the full hydrogenation process to fill the short supply of aromatics.

The raw materials such as aromatics produced by the Hengli Refining and Chemical Integration Project are directly supplied to the PTA plant, realizing from "refinery-aromatics-chemicals-PTA, ethylene glycol-filaments, industrial yarns, PET chips, engineering plastics and film-textiles", which marks the first time that Hengli Group has entered the complete industrial chain from “one drop of oil” to “one piece of cloth”. In 2019, the Hengli Refining and Chemical Project will achieve an annual output value of over 150 billion yuan, profits and taxes will exceed 38 billion yuan, and the total revenue of Hengli Group will also exceed 600 billion yuan.

[RISK DISCLAIMER] All opinions, news, analysis, prices or other information contained on this report is provided by analyst of Zhejiang Huarui Information Consulting Co., Ltd (CCFGroup) as general market commentary and does not constitute investment advice. CCFGroup will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
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