Invest 17.6 billion! Wanhua Chemical downstream project is about to start!

Recently, Wanhua Chemical (or the "Company") announced that the company plans to implement the ethylene phase II project in Yantai Industrial Park, build 1.2 million tons / year ethylene and downstream high-end polyolefin projects, realize the industrialization of self-developed POE, differentiated special materials and other high-end polyolefin products, ethylene phase II project will choose ethane and naphtha as feed raw materials, and the company's existing PDH integration project and ethylene phase I project to form efficient synergy. The planned investment of the project is 17.6 billion yuan, and the project construction funds are raised in the form of a combination of own funds and bank loans.

China's ethylene industry downstream high-end products rely heavily on imports, polyethylene elastomer is an important part of new chemical materials, of which polyolefin elastomer (POE), differentiated special materials and other high-end polyolefin products 100% rely on imports. After years of independent technology development, the company has fully mastered the relevant technology.

The planned project covers an area of about 1,215 mu, mainly constructing 1.2 million tons/year ethylene cracking plant, 250,000 tons/year low-density polyethylene (LDPE) plant, 2×2,000 tons/year polyolefin elastomer (POE) plant, 200,000 tons/year butadiene plant, 550,000 tons/year pyrolysis gasoline hydrogenation unit (including 30,000 tons/year styrene extraction), 400,000 tons/year aromatic hydrocarbon extraction unit and supporting auxiliary engineering and public facilities. The project plans to invest 17.6 billion yuan, and the construction funds will be raised in the form of a combination of own funds and bank loans. The project has been approved by the Development and Reform Commission of Shandong Province (see the company's announcement No. 2022-62 for details) and is expected to start production in October 2024.

The project has been approved by the Development and Reform Commission of Shandong Province and is expected to start production in October 2024. The completion and operation of this project will make Wanhua Yantai Industrial Park a comprehensive chemical park with great competitive advantages in the world for fine chemicals and new chemical materials.