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Chongqing Establishes International NG Chemical Base

On February 25th, Sinopec Sichuan Vinylon Works Group (SVW) and SK Energy Holding Co., Ltd. (SK Energy) singed the Contract and Regulation for Joint Capital about 1,4-Butanediol (BDO) Project in Chongqing. Both parties will jointly invest to build an international scaled BDO plant with capacity of 200,000t/a. In addition, they will develop downstream ramification products of BDO at proper time. The international NG chemical base in Chongqing is taking shape gradually, with addition of existing NG chemical enterprises.  
The BDO project consists of three process plants, including 70,000t/a acetylene plant, 300,000t/a formaldehyde plant and 200,000t/a BDO plant, as well as supportive public works and auxiliary facilities. Total investment is about RMB 3.8 billion. The project will be completed by stages by the end of 2015. After completion, it will create remarkable economic benefits with annual income of RMB 4 billion and annual profit tax of 1.4 billion. The project will set up an interactive row material supply system with its downstream projects so as to achieve the intensified utilization of resources and promote the competitiveness of projects. It is significant for expanding NG chemical industry chain in Chongqing and developing distinctive NG chemical industry in China.
In recent years, Chongqing witnesses the rapid growth of industry and the outstanding improvement of openness. Last year, foreign industrial investment reached about USD 4 billion.  As one of six pillar industries in Chongqing, Chemical industry created production value of nearly RMB 200 billion last year, which is expected to be RMB 500 billion in 2015. NG chemical industry played the leading role in the production value last year. In the past few years, Chongqing focuses on cooperation with world-class chemical enterprises. Chongqing attaches great importance on the concept of Five Integrations, including integration of upstream, midstream and downstream industrial chains, integration of logistics, integration of infrastructure, integration of public facilities and integration of environmental treatment. Based on the concept, Chongqing facilitates NG chemical industry to develop towards a professional, elaborate, hi-tech, high value-added and highly environmental friendly model.
   

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