Heavy! ZhenHua Oil PO project signed another big order!

On April 14, Zhuoran Co., Ltd. issued the “Announcement on the Signing of Major Orders by Wholly-owned Subsidiaries”, saying that recently, Zhuoshu, a subsidiary of the company, received a purchase order from Zhenhua Petrochemical Co., Ltd., of which 30/670,000 tons/year PO The order value of the EPC general contracting contract for the design, manufacture and installation of /SM main device and its supporting modules is RMB 3,356 million (tax included); the order value of the EPC general contracting contract for the engineering design, manufacture and installation of 400,000 tons/year butane reaction unit is 2,134 million yuan 260,000 tons/year maleic anhydride main device and its supporting modular design, manufacture and installation EPC general contract order value is 1.446 billion yuan, the total amount is 6.936 billion yuan, accounting for 177.81% of the company’s audited operating income in 2021 .

Main terms of the contract

Contract signing time and place: April 14, 2023 in Suzhou

Total order amount: RMB 6,936 million (tax included)

Settlement method: the contract signing, project start, equipment ordering, main material arrival, equipment delivery, installation acceptance, etc. are the milestone nodes to make payment according to the purchase conditions

Project location: Dongying Port Economic Development Zone, Dongying City, Shandong Province

Performance period: from the effective date of the order to the product inspection and acceptance and completion of delivery (the expected performance time is from 2023 to 2025)

Conditions for entry into force: The order contract will take effect immediately after being signed and sealed by both parties

Project Introduction

The first phase of the propane dehydrogenation and propylene oxide project of Zhenhua Petrochemical Co., Ltd. plans to invest 12.36 billion yuan, covering an area of ​​1,466 mu. device, 250,000 tons/year gas separation device and 200,000 tons/year maleic anhydride device. Among them, the propane dehydrogenation unit is the largest monomer dehydrogenation unit in the world, adopting the latest international dehydrogenation process, which has the advantages of small hydrogen-to-hydrocarbon ratio, low energy consumption, and long catalyst operating cycle.

At present, the construction of civil engineering and steel structure in the PDH device area of ​​the project has been fully launched, and the on-site equipment is being produced in an orderly manner. According to Feng Guangjie, the person in charge of the project, the project is expected to complete the piping and equipment installation before May, and realize the commissioning of CCCC; the propylene oxide unit and the maleic anhydride unit will be commissioned in May next year.

This project is an important basic project for enterprises to achieve transformation and upgrading. By integrating the resources of Axiata Group and other enterprises around Dongying Port, and taking advantage of the location advantages of port transportation, it will produce low-value-added light hydrocarbon raw materials such as propane and liquefied gas into polymer-grade propylene, High value-added chemical products such as propylene oxide, styrene and maleic anhydride are of great significance for enterprises to take the lead in opening up the “refining-aromatics-polyester-new materials” industrial chain.