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Fujia Group and China Huayang Economic and Trade Group Co. Ltd have signed a strategic cooperation agreement to jointly establish a 20 million mt/year (400,000 bbl/day) refining-chemical complex in Dalian city in northeast China’s Liaoning province.
According to the agreement signed on November 9, 2018, the complex will be located on the Changxing Island in Dalian, and will introduce a total foreign capital of 1 billion US dollars. The project will mainly produce aromatics, ethylene, propylene and high-end and high value-added chemical products, to form a complete industrial chain development model from crude oil to chemical products, which will have a huge chain effect on the economic development of Dalian and the Changxing Island.
At present, the project is still in a very early phase, and the previous plan of the Changxing Island Petrochemical Base stated that ‘by 2030, the scale of refining and chemical integration will reach 40 million mt/yr, and the prospective plan will be 60 million mt/yr’, also indicating that the timetable for the second private giant project is not urgent in Changxing Island.
With this project online, Dalian will become the second city in China to gather three 20 million mt/yr refining and chemical enterprises – Dalian Petrochemical of PetroChina, Hengli Refinery, which will be put into production in late November, and the Fujia Refining and Chemical Project.
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The first Chinese petrochemical base to gather three 20 million mt/yr of refining and chemical enterprises will probably be the Ningbo-Zhoushan base. In addition to Sinopec Zhenhai Refining and Chemical Co., Zhejiang Petrochemical’s Phase I project is coming online late this year and Zhejiang Petrochemical’s Phase II project is under planning.
China Huayang Economic and Trade Group is among the first batch of state-owned companies approved by the State Council. It invested in a new modern chemical project that is based on crude processing and covers all the industrial chains in Guangdong’s Zhuhai. The company owns a crude oil processing capacity of 11.2 million mt/yr, and has long been engaged in crude oil trade and the imports of high-end products.
Fujia Group is an enterprise with diversified businesses, integrating petrochemical, real estate development, commercial operation, financial investment and property management. It owns the first privately-held aromatics petrochemical project in China and produces 1.4 million mt of PX (p-xylene) per year.
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