Dragon Group gets govt nod for Xiamen PX project

14 July 2006 10:44  [Source: ICIS news]

SINGAPORE (ICIS news)--The Dragon Group, a Chinese chemical producer, received approval from the central government for its CNY10.8bn ($1.4bn/Euro1.1bn) paraxylene (PX) project, a company official said on Friday.

The 800,000 tonnes/year project at the Haicang Chemical Industry Park, Xiamen, Fujian province, will be based on Axen’s technology, he added. The proposed plant would also produce more than 200,000 tonnes/year of benzene.

The company plans to import naphtha and vacuum gas oil feedstocks for the project, which could start up in early 2009, the official said.

PX produced could be sold to its neighbour Xiang Lu Petrochemical, one of China’s largest purified terephthalic acid (PTA) producers, or feed Dragon Group’s PTA project at Wujiang, Jiangsu province.

The company is waiting for environment approval for the 600,000 tonnes/year PTA project, the official said.

Its subsidiary Dragon Special Resin operates a 480 tonne/day (158,400 tonne/year) polyethylene terephthalate (PET) bottle-grade chips line, and a 120 tonne/day line that can produce either PET industrial-grade chips or bottle-grade chips, at Haicang.

By: Florence Tan
+65 6780 4359

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