China’s Oriental Energy plans $5.9bn olefins project in Jiangsu

27 August 2013 11:22  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Oriental Energy is planning to establish a yuan (CNY) 36bn ($5.9bn) olefins project at Zhangjiagang in east China’s Jiangsu province over a span of 3-5 years, the firm said on Tuesday.

Oriental Energy will invest about CNY10bn on the project (please see table below) and will seek other investors to shoulder the balance of the planned investment amount, it said in a statement to the Shenzhen Stock Exchange.

The project is still in the planning stages and the firm has yet to fix a timeline for completion.

Oriental Energy is also building a 1.2m tonne/year joint venture PDH plant at Zhangjiagang and two 660,000 tonne/year PDH plants at Ningbo in Zhejiang.

($1 = €6.12)

Planned facilities

Capacity

PDH*/ PP phase I

600,000 tonne/year propylene,

400,000 tonne/year polypropylene (PP)

methanol to olefin

600,000 tonne/year PP

PDH/PP phase II

600,000 tonne/year propylene,

400,000 tonne/year PP

butane to butadiene

1m tonne/year butadiene/isobutene

ethane to ethylene

1m tonne/year ethylene

* propane dehydrogenation (PDH)


By: Fanny Zhang
+65 6780 4359



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