China Resources Chemical joins hands with BP to strengthen PTA procurement

Recently, China Resources Chemical Materials Technology Co., Ltd. introduced BP (British Petroleum) to invest 25 million US dollars, becoming one of the shareholders. At the same time, the two sides signed a strategic cooperation agreement to strengthen cooperation in the procurement of raw terephthalic acid (hereinafter referred to as PTA) in the production of polyethylene terephthalate (hereinafter referred to as PET), thereby promoting the entire upstream and downstream industries Deep integration and integration of the chain, and work together to further develop the global market.

PET is the main raw material for the production of plastic bottled products. China Resources Chemical Materials has the top bottle-grade polyester chip production capacity nationwide and even globally. Set up production bases and R & D centers in the Yangtze River Delta and the Pearl River Delta with rapid economic development. They have reasonable layout, neat planning, and are equipped with advanced automatic control systems. The products have strong market advantages in terms of variety, quality, and cost. Adhering to the development concept of "green, healthy and environmental protection", the company continues to promote scientific and technological innovation and has won many national, provincial and municipal honorary titles. The future polyester production capacity will reach 2.2 million tons.



As the upstream product of PET, PTA is the basic raw material for manufacturing polyester widely used in the production of plastic bottled products. BP is a long-term fixed and important PTA supplier of China Resources Chemical Materials. Its PTA flagship factory in Zhuhai is BP's largest PTA production base in the world. With a total capacity of 2.7 million tons, the project is one of the most efficient PTA plants in the world. Relying on the leading technology of low carbon and environmental protection, BP Zhuhai PTA plant won the "PTA industry energy efficiency leader" award issued by China Petroleum and Chemical Industry Federation in 2019.



Gu Ruifu, chief operating officer of BP's global petrochemical business, said: "As society continues to popularize the concept of low-carbon sustainable development and the public's consumption upgrade of green and environmentally friendly packaging products, the strong combination of BP and China Resources Chemical Technology The expanded industry capacity provides the impetus to reduce the company's investment in heavy assets in a more flexible manner and accelerate the integration of the polyester industry. "



Yang Xiaoping, Chairman and President of BP China, said: "The joint venture between the two parties will not only open up the market, but also promote the sustainable development of the industry, organically combine each other's leading technologies and concepts, and lead the low-carbon future of China and the world.



Zhu Zhenda, Managing Director of China Resources Chemical Materials Technology Co., Ltd. said: "BP is an important strategic partner of China Resources Chemical Materials in the polyester industry chain. Through this in-depth cooperation between the two parties, effective resource integration, complementary advantages, and joint innovation will be achieved. Bright prospects for new polyester technology, new products and new applications. "



With its leading independent research and development capabilities, China Resources Chemical Materials is further expanding into downstream fields with high added value and high cost performance, such as PETG and polyester foam materials. At the same time, BP, as one of the world's largest energy and chemical companies, continuously improves the leading process technology of PTA production and continuously reduces costs through the use of advanced production and management experience. Not only that, BP developed a leading plastic recycling technology-BP Infinia last year. This technology can turn PET waste that is currently not easy to recycle into treasure, and convert it into a new and pure quality PET raw material. The cooperation between the two parties will lead the development and development of the circular economy in the industry.