Wanhua Chemical (600309.SH) announced that the company has recently received the Shandong Provincial Development and Reform Commission’s “ Approval of Wanhua Chemical Group Co., Ltd.’s 1.2 million tons/year ethylene and downstream high-end polyolefin project “Reply” (Lu Fa Gai Xiang Shen [2022] No. 478), the main content of the reply is as follows:
1. In order to conscientiously implement the national supply-side structural reform requirements, improve the domestic supply capacity of high-end chemicals, and lead the high-quality development of the petrochemical industry in the province, according to the “National Development and Reform Commission General Office of the Ministry of Industry and Information Technology on Wan Hua Chemical’s 1.2 million tons/year ethylene and downstream high-end polyolefin project listed as a planned project” (Fagaiban Industry [2022] No. 710) requirements, in accordance with the “Administrative Licensing Law”, “Enterprise Investment Project Approval and Record Management “Regulations”, agreeing Wanhua Chemical Group Co., Ltd. to build 1.2 million tons/year ethylene and downstream high-end polyolefin projects.
2. The construction site of the project is located in Yantai Chemical Industrial Park.
3. Main construction contents of the project:1.2 million tons/year ethylene cracking unit, 250,000 tons/year low-density polyethylene (LDPE) unit, 2×200,000 tons/year polyolefin elastomer (POE) device, 200,000 tons/year butadiene device, 550,000 tons/year pyrolysis gasoline hydrogenation unit (including 30,000 tons/year styrene extraction), 400,000 tons/year aromatics extraction device and supporting auxiliary projects and utilities facility.
4. The total investment of the project is 17.6 billion yuan, the project capital accounted for 30% of the total investment, and the rest will be settled through bank loans.
Source of article: Zhitong Finance Network
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