According to the Sinopec News Office, on the 27th, Sinopec Luoyang million tons of ethylene project and green petrochemical advanced material industrial base started construction in Luoyang. The project plans to build a million-ton ethylene project. After completion, it will sell about 3 million tons of various chemical products annually, reduce the Chinese market's dependence on high-end product imports, promote the transformation of oil refining to chemical industry, and help the ecological protection and high-quality development of the Yellow River Basin.
The approved total investment of the project is 27.8 billion yuan. It is planned to build 13 sets of main production units, including 1 million tons/year ethylene unit, 150,000 tons/year butadiene extraction unit, and 600,000 tons/year pyrolysis gasoline hydrogenation Devices, etc., as well as supporting public works and auxiliary facilities. Refinery adaptive transformation will also be implemented simultaneously. The project is scheduled to be completed and put into operation in December 2025.
Henan Province is an important province in the central region with a superior location. Judging from the market in Henan and its surrounding provinces, there is a huge gap in the market for plastic products such as polyethylene and polypropylene, and there is a mature and stable consumer market and space. However, the current regional ethylene production is far from meeting the demand. The planning and construction of a one-million-ton ethylene project in Luoyang is conducive to further complementing the shortcomings of the petrochemical industry chain in the central and western regions, promoting Henan Province to build a green petrochemical and advanced material industry base, and optimizing the industrial layout in the central and western regions.
Luoyang constructs a million-ton ethylene project, which can produce high-tech and high value-added chemical products, such as metallocene polyethylene, photovoltaic grade EVA, reactor alloy polypropylene, SEBS thermoplastic elastomer, etc., reducing the Chinese market The dependence on imports of high-end products alleviates the structural shortage of domestic high-end chemical products, realizes transformation and upgrading, and enhances the ability to resist market fluctuations.
In recent years, Sinopec Luoyang Petrochemical has built and put into operation a 10 million tons/year refining structure adjustment project, a 1.6 million cubic meter Luoyang crude oil commercial and storage base, and a Rizhao-Puyang-Luoyang crude oil pipeline with an annual output of more than 10 million tons. Sufficient raw materials can be provided for ethylene projects. The project site is close to the existing refining unit, which will give full play to the advantages of refining and chemical integration.
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