In 2024, the Energy and Chemical Industry Invests 287.3 Billion Yuan in 63 Projects! Xinjiang Coal-to-Oil Project Budgeted at 90 Billion Yuan

In the week from November 18 to 24, 2024, statistics show that 63 projects under construction in the energy industry are updated, with a total budget of 287.3 billion yuan. In addition, five projects have been completed and operated, four projects have been suspended and two projects have been cancelled.

Key projects include:

1. The coal-to-oil project in Hami City, Xinjiang, with a budget of 9 billion yuan, is expected to start in the fourth quarter of 2024 and be completed in the fourth quarter of 2026. It is currently in the civil construction stage.

2. The project of α-olefin New Material Industrial Park in Lianyungang City, Jiangsu Province, with a budget of 25.7 billion yuan, is expected to start in the fourth quarter of 2024 and be completed in the fourth quarter of 2026, and is currently in the civil construction stage.

3. The Green methanol and jet fuel project of Shuangyashan City, Heilongjiang Province, with a budget of 20.8 billion yuan, is expected to start in the fourth quarter of 2024 and be completed in the fourth quarter of 2026, and is currently in the construction preparation stage.

4. The 200,000-ton/year EVA device project in Jinan, Shandong Province, with a budget of 12.5 billion yuan, is expected to start in the fourth quarter of 2023 and be completed in the fourth quarter of 2025, and is currently in the civil construction stage.

5. The wind power hydroalcohol integration project in Chifeng City, Inner Mongolia, with a budget of 11.2 billion yuan, is expected to start in the second quarter of 2024 and be completed in the fourth quarter of 2025, and is currently in the civil construction stage.

In terms of industry distribution, the chemical industry led with 23 projects and 36.51% of the proportion, the coal liquefaction industry ranked first with a total budget investment of 90 billion yuan, accounting for 31.33%, and the chemical industry followed with a total budget investment of 59.6 billion yuan. The total budgeted investment in other industries is less than 40 billion yuan.

In terms of geographical distribution, 18 provinces and autonomous regions have planned to update projects under construction, with Shandong Province leading with 9 projects, Fujian Province and Henan Province with 7 projects each, Jiangsu Province and Inner Mongolia Autonomous Region with 6 projects each, Xinjiang Uygur Autonomous Region with 5 projects, and no more than 4 projects in other provinces.

Xinjiang Uygur Autonomous Region ranked first among provinces with a total budget investment of 100.1 billion yuan, among which the coal-to-oil project in Hami City had the highest budget of 90 billion yuan. Jiangsu Province ranked second with a total budget investment of 44.4 billion yuan, and Lianyungang New Materials Industrial Park project had the highest budget of 25.7 billion yuan.

In terms of project stage, 2 projects are in the early planning stage, 17 projects are in the approval stage, 16 projects are in the engineering design stage, and 28 projects are in the engineering construction stage.