On January 20, Dalian Municipal Ecological Environment Bureau made two major new decisions on Hengli Petrochemical (Dalian) New Materials Technology Co., Ltd.’s 2.6 million tons/year high-performance polyester project and 1.6 million tons/year high-performance resin and new materials project. The materials project was announced for approval. Hengli Petrochemical controls 100% of Hengli Petrochemical (Dalian) New Materials Technology Co., Ltd. through Hengli Petrochemical (Dalian) Chemical Co., Ltd.
2.6 million tons of high-performance polyester project: This project is located in Hengli Petrochemical Industrial Park, Changxing Island, Dalian, with a total investment of 4 billion yuan. It is planned to build a total scale of 2.6 million tons per year of polyester production equipment and storage and transportation and other public auxiliary projects. . The main project builds a total of 7 sets of equipment, including 3 sets of 600,000 tons/year polyester production equipment, 2 sets of 300,000 tons/year polyester production equipment, and 2 sets of 100,000 tons/year polyester production equipment, all of which use refined paraben. Dicarboxylic acid (PTA) and ethylene glycol (MEG) are used as raw materials. After esterification and polycondensation, polyethylene terephthalate (PET) melt polymer is produced. The melt is cut into strands and pelletized on-site. into PET polyester chips. The project will have an annual output value of 18 billion yuan after reaching full capacity, and the construction period will be from 2022 to 2023.
At present, the design unit and long-term equipment have been determined. Construction is planned to start before March 31, with a planned investment of 2 billion yuan in 2022, mainly for basic engineering and planned device construction.
1.6 million tons/year high-performance resin and new material project: This project is also located in Hengli Petrochemical Industrial Park, with a total investment of 20 billion yuan and 14 sets of main equipment: 450,000 tons/year ethylene oxide unit, 200,000 tons/year Annual ethanolamine plant, 30,000 tons/year ethylene amine plant, 420,000/260,000 tons/year phenol acetone plant, 2*240,000 tons/year bisphenol A plant (using ion exchange method), 200,000 tons/year carbonic acid dicarbonate plant Methyl ester plant, 260,000 tons/year polycarbonate plant, 2*200,000 tons/year CO2 refining plant, 130,000 tons/year isopropyl alcohol plant, 300,000 tons/year ABS plant, 150,000 tons/year polystyrene Ethylene plant, 80,000 tons/year polyformaldehyde plant, 72,000 tons/year PDO plant, and 60,000 tons/year PTMEG plant.
The annual output value of the project after reaching full capacity is 25.375 billion yuan, and the construction period is from 2022 to 2024. The raw materials are mainly propylene, ethylene oxide solution, liquid ammonia, methanol, benzene, styrene, ethylene glycol, etc., mainly from Hengli refining and chemical integration projects or outsourcing. The main products include more than 30 kinds of chemical products (raw materials) such as polycarbonate, bisphenol A, ABS, PS, ethanolamine, etc.
The accelerated advancement of the two major projects has undoubtedly accelerated the layout of Hengli Petrochemical’s entire industry chain.
Relying on the existing “big chemical” platform to accelerate the layout of downstream high-end chemical new materials
After years of development, the company has efficiently constructed and completed a 20 million tons/year refining and chemical integration project, a 5 million tons/year modern coal chemical plant, a 1.5 million tons/year world’s largest monomer ethylene project, and 5 sets of the industry’s largest total monomers. The four major production capacity clusters of PTA plants with an annual capacity of 11.6 million tons have built a powerful “big chemical” platform.
With the support of the rich “chemical raw material library” in the upstream, the company has accelerated the layout of high-end new materials in the downstream and plans to invest 20 billion yuan to build a 1.6 million tons/year high-performance resin and new material project. Compared with traditional chemicals, its main products are ethanolamine, New materials such as PC, DMC, and ABS have higher added value; at the same time, the implementation of the domestic “dual carbon” strategy, the transformation and upgrading of the manufacturing industry, and changes in the consumption structure will promote domestic renewable energy, new energy vehicles, 5G The rapid development of industries such as technology, consumer electronics and integrated circuits will inevitably lead to an increase in demand for related new chemical materials, and the market space will be vast in the future. Through the “top-down” layout of the downstream high-end chemical new materials industry chain, the company will continue to improve its own profitability and enhance the certainty of growth. With the gradual implementation of relevant projects, the company is expected to gradually grow into a world-class platform-based new chemical materials R&D and manufacturing enterprise while achieving “secondary growth”.
Planning for photovoltaic material-grade polyester chips, and products continue to develop towards high-end differentiation
As a leading domestic polyester enterprise, Hengli Petrochemical has always been at the forefront of the industry. While continuing to expand its production capacity, it is committed to the high-end differentiated development of its products. It plans to invest 4 billion yuan to build a high-performance polyester project with an annual output of 2.6 million tons. The construction of the project will effectively expand the production capacity and scale of the company’s polyester segment, and the layout of high-end polyester production capacity such as industrial silk grade and photovoltaic material grade will provide rapid development of high-end films such as downstream MLCC release base films, optical films, and photovoltaic films. Providing strong support for development, the company’s polyester industry will continue to develop towards high-end and differentiated development in the future, and its core competitiveness will continue to increase.
New projects will continue to contribute to performance increments, and the company will show high growth
In the next three years, Hengli Petrochemical’s new projects will continue to contribute incremental performance to the company, with strong growth certainty. Other�, 120,000 tons/year polyester film and 30,000 tons/year modified engineering plastics are expected to be put into production at the end of 2021. The remaining 550,000 tons/year polyester filament in the second phase of Hengke continues to be constructed; in 2022, Huizhou 5 million tons /year PTA and Dalian’s 450,000 tons/year degradable plastics will contribute to the company’s performance increment; from 2023 to 2024, the annual output of 800,000 tons of functional polyester film/functional plastics project, Xuanda’s 1.5 million tons/year green Multifunctional new textile material projects and 300,000 tons/year adipic acid new material supporting projects will be completed and put into production one after another, which will continue to contribute to the company’s performance and show high growth in the future.
</p
