Sinopec's New Petrochemical Base Sets Global Standards

Sinopec's Groundbreaking Expansion in Petrochemicals

Refining Capacity of the Base Surpasses 50 Million Tons per Year

China Petroleum & Chemical Corporation (HKG: 0386), known as Sinopec, has marked a significant milestone with the mechanical completion of its Zhenhai Refinery expansion. This second-phase project is a testament to Sinopec's commitment to innovation and energy efficiency, contributing to a total refining capacity that now exceeds 50 million tons annually across the Zhejiang Ningbo Petrochemical Industrial Base.

Transformational Achievements in Petrochemical Production

The strides made with the advanced materials project at Zhenhai Refinery have solidified its position as the largest and most advanced petrochemical industrial base in China. Such expansions are not just numbers; they represent Sinopec's strategies to enhance its operational capabilities and back its sustainability goals.

Significant Investment and Infrastructure

The total investment for this ambitious project is approximately CNY 41.6 billion, which has enabled the establishment of 18 new production units that focus on key processes like atmospheric distillation and catalytic cracking. This infrastructure is critical for supporting high-value supply chains in sectors that range from automotive to textiles.

The Impact on Supply Chains

The expanded facility is poised to deliver about 8 million tons of petrochemical products each year. This remarkable capacity boost will not only meet regional demands but will also support pivotal industries by enhancing their product offerings and production capabilities. The forecast suggests a substantial value increase across both upstream and downstream industrial segments, potentially generating trillions in yuan.

Innovative Technologies and Sustainability Practices

Sinopec has made impressive strides in committing to sustainable and high-tech advancements. Some of the highlights from the project include:

• Localization of 10 core technologies, including a state-of-the-art vertical labyrinth compressor.
• Integration of smart technologies that allow for the smooth operation of digital and physical manufacturing processes.
• Development of a fully localized operational system and an in-house industrial internet platform to boost management efficiency.
• Implementation of broad energy-saving strategies, achieving an energy consumption reduction of 11.7% throughout the project.
• Outstanding safety and quality control measures led to over 90 million safe man-hours and a 100% quality assurance pass rate for all output units, which sets a remarkable benchmark for the industry.

Zhenhai Refinery: A Leader in the Industry

Sinopec’s Zhenhai Refinery is not just an expansion site; it stands as China’s largest integrated refining and chemical facility. Its ethylene production capacity reaches 2.2 million tons annually, marking its consistent place among the world's top performers in global ethylene operations.

Frequently Asked Questions

What is the significance of Sinopec's expansion at Zhenhai Refinery?

This expansion marks a pivotal increase in production capacity, enhancing Sinopec's position in the global petrochemical market.

How will the Zhenhai Refinery impact local and international industries?

The refinery's expanded capacity is expected to significantly strengthen supply chains in various industries, including automotive and textile production.

What innovations were introduced through this project?

The project showcases advanced technologies like a localized operational system and significant energy-saving implementations.

What is Sinopec's commitment to sustainability with this project?

Sinopec has emphasized energy efficiency, aiming for an 11.7% reduction in energy consumption through innovative practices.

How does Zhenhai Refinery compare to other facilities globally?

The refinery is ranked among the top industry leaders globally, recognized for its high production standards and advanced technologies.

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