Zhejiang Petrochemical 100 Billion Refining And Chemical Projects Put Into Operation A Number Of A Share Companies To Participate In

The first phase of the 40 million ton / year refining and chemical integration project of Zhejiang Petrochemical Company Limited (hereinafter referred to as "Zhejiang petrochemical") has been put into operation after nearly two years of construction.

On the evening of May 20th, the shareholders of Rongsheng Petrochemical Company and Tong Kun share announced the good news.

The announcement shows that the "40 million ton / year refining and chemical integration project (phase I)" currently invested in the construction of Zhoushan green petrochemical base has completed the preliminary work of engineering construction, equipment installation and commissioning.

According to the actual progress, the company put the first batch of equipment (atmospheric and vacuum distillation and related utilities) into operation.

It is reported that Zhejiang Petrochemical 40 million ton / year refining and chemical integration project is a key project in Zhejiang province.

The total scale of the project is 40 million tons / year oil refining, 8 million tons / year of p-xylene, 2 million 800 thousand tons / year ethylene, with a total investment of 173 billion yuan.

Among them, the first phase of the project formally launched in June 2017 invested 90 billion 156 million yuan, planning and construction of 20 million tons / year refining +520 million tons / year aromatics +140 million tons / year ethylene.

Project construction side Zhejiang Petrochemical Co., Ltd. is composed of Zhejiang private enterprises and Zhejiang state owned assets. The proportion of shareholders is: Rongsheng Petrochemical invested 51%, giant group invested 20%, Tong Kun invested 20%, Zhoushan ocean Comprehensive Development Investment Co., Ltd. invested 9%.

What does Zhejiang Petrochemical's 40 million ton / year refining and chemical integration project mean for the holding side of Rongsheng Petrochemical?

In 2018, Li Shuirong, chairman of Rongsheng Petrochemical Company, said in an interview with the securities times e reporter: "Rongsheng Petrochemical has been doing this for so many years, but it has not yet done a big project in Zhejiang Province. After the project is put into operation, the scale of Rongsheng Petrochemical will double, meaning" recreating a prosperous ".

As a 100 billion scale refinery project, many A share listed companies have been involved in the construction of the project.

For example, China's first, East cable, hang Xiao steel structure, hang oxygen shares and other companies.

Take Hangzhou oxygen shares as an example. In February 2017, Hangzhou oxygen group and Zhejiang Petrochemical Company held four contracts of 83000m3/h air separation equipment contract signing ceremony for the first phase of the 40 million ton / year refining and chemical integration project, and the contract amount of the order was nearly 900 million yuan.

Since the launch of this 100 billion level project, it has been a focus of the capital market. It is also a key project followed by researchers in the chemical industry.

In April of this year, Everbright Securities research report pointed out that the commissioning of the first phase of the Zhejiang petrochemical project is significant for Rongsheng Petrochemical's performance and subsequent development space. The Investment Research Institute reported that all the Zhejiang petrochemical projects reached the post production stage, and the profit center is expected to be around 8 billion 500 million yuan, which is expected to bring about 4 billion 300 million yuan profit increment for Rongsheng petrochemical company.

Rongsheng petrochemical and Tong Kun said that the production of the project will help the company to build an integrated industrial chain of "crude oil aromatics (PX), olefin PTA, MEG polyester - spinning and blasting", so as to achieve high quality and efficient scale production, reduce product costs, further enhance the company's profitability, enhance the company's overall strength and ability to resist risks, and achieve leaping development. On the other hand, it will improve China's discourse rights in the aromatics and ethylene industry to a certain extent, and promote the production, processing and sales of chemical products in the middle and lower reaches, and achieve the economic and social benefits of the company.