With the successful completion of new and expanded production projects of its holding companies in recent years, Hengyi Group’s annual aggregate capacity reached 10.06 million tons at the beginning of 2021, taking the lead among global peers to break through the 10 million tons mark. At present, Hengyi Group has formed the core business of the petrochemical industry chain driven by “polyester + nylon”. Since this year, Hengyi Group’s “column-shaped” industrial structure has been more optimized, and the polyester, nylon and “double fiber” industrial layout has been more complete. , the market’s voice is more powerful.
Investment 19.723 billion yuan
Started construction of 1.2 million tons nylon raw material project
On January 21, Hengyi Petrochemical held the 16th meeting of the 11th board of directors, and reviewed and approved the “Proposal on the Subsidiary’s Investment and Construction of Caprolactam-Polyamide Integration and Supporting Projects with an Annual Production Capacity of 1.2 million tons.” The project is implemented by Guangxi Hengyi New Materials Co., Ltd. The project is expected to have a total investment of 19.723 billion yuan and will be constructed in two phases. Each phase will produce an annual output of 600,000 tons of polyamide. The products involve high-end nylon fibers, engineering plastics and films, covering a wide range of industries. Various application areas.
On October 27, 2021, Guangxi Hengyi New Materials held a project commencement ceremony
It is understood that the project adopts the most advanced technology in the industry independently developed and is the first large-scale Jijin integrated equipment in China. At the same time, Qinzhou, where the project is located, is located in the center of the Beibu Gulf of Guangxi, facing Southeast Asia, backed by the Southwest, relying on the Guangxi-Brunei Economic Corridor, and located at the junction of the South China Economic Circle, the Southwest Economic Circle and the ASEAN Economic Circle. The product market can cover the domestic and Southeast Asia and other vast markets, the geographical location is very advantageous. Moreover, Qinzhou is located in the nearest and most convenient natural deep-water port for land transportation in the southwest. Important transportation hubs such as railway stations and ports are less than 3 kilometers away from the project location, and the coal terminals and chemical terminals supporting the project are already under planning and implementation. , transportation is extremely convenient.
The superior geographical location can effectively ensure the stable transportation and supply of raw materials on the production side. On the sales side, the finished products can also be widely sold in domestic coastal and southwest regions as well as overseas markets such as ASEAN and Europe. The announcement shows that after the project is put into production, it can effectively extend the downstream aromatics industry chain, optimize the product structure, enhance the company’s competitive strength, stabilize the industry’s leading position, and improve overall profitability. The company’s integrated strategic industrial layout will also be further improved.
Annual export volume reached US$5.222 billion
Hengyi Brunei project in 2021 will help Chinese trade reach a record high
In terms of overseas production capacity layout, as a key project of the “One Belt and One Road” – Hengyi Brunei Petrochemical Project is known as the flagship cooperation project between China and Brunei. The first phase of the project invested US$3.45 billion and was fully completed and put into operation in November 2019, completely opening up the It has achieved the “last mile” of the integrated operation of the entire industry chain and set a new record in the global petrochemical industry for the shortest feed and commissioning time, the most stable process and the best HSE performance of a 10-million-ton refinery. Since the first phase was fully put into operation, the project’s production and operation have been stable and orderly, bringing sustained economic and social benefits to Brunei. In 2021, on the basis of the 30th anniversary of the establishment of diplomatic relations between China and Brunei, this project has been placed with greater expectations.
On January 21, the Chinese Embassy in Brunei issued a report saying: According to Chinese customs statistics, the trade volume between China and Brunei reached US$2.85 billion in 2021, a year-on-year increase of 46.6%. This is the first time in 12 years since China’s trade volume exceeded US$1 billion in 2010 that it has exceeded the US$2 billion mark. Since March 2021, China-Brunei trade has steadily risen against the trend. The trade volume from January to September has exceeded US$2 billion, setting a record high. Key projects of China-Brunei cooperation have made important contributions to this.
As a flagship cooperation project between China and Brunei, since the first phase of the Hengyi Brunei project was put into operation, the production and operation of the project have been stable and orderly, bringing sustained economic and social benefits to Brunei. In 2021, the century-old changes in the world and the global epidemic of the century are intertwined. Under the extremely challenging market environment, Hengyi Brunei project has adopted a series of strategic measures to stabilize production operations, optimize product structure, and move forward along the right course to break the waves and achieve Production is at full capacity, with production capacity reaching 110%. While ensuring domestic supply in Brunei, it achieved an export volume of US$5.222 billion throughout the year and created good economic benefits.
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