Baofeng Energy's 600,000-ton olefin project was basically completed, and the first commissioning with materials was successful

On August 1, Baofeng Energy (60098SH) announced that the 600,000-ton/year olefin project, one of the company's IPO fundraising projects, has been basically complet.

On August 1, Baofeng Energy (60098SH) announced that the 600,000-ton/year olefin project, one of the company's IPO fundraising projects, has been basically complet.

According to a person from Baofeng Energy, the debugging process of the extrusion granulator in the second workshop of polypropylene only lasted 36 days, and the successful commissioning in such a short time is one of the few in the indust.

It is understood that the polypropylene plant and engineering construction of Baofeng Energy's Phase II olefin project have achieved the highest level in the indust.

The commissioning of the equipment started on June 24, and the extruder granulator was officially commissioned on July 29, 2019, and the test was successf.

The aforementioned Baofeng Energy source stated that the successful one-time trial run of the polypropylene extrusion granulator with material represents that the polypropylene extrusion granulation and subsequent sections have the ability to accept powder and put it into producti.

The polypropylene-related production line tested this time is an important part of the main investment project of Baofeng Energy's IPO - coke gasification to produce 600,000 tons of olefins per ye.

The investment project is expected to be completed and put into operation by the end of 2019, of which the 600,000-ton/year methanol-to-olefin plant will be put into operation in the third quarter of this ye.

The research report of CITIC Securities pointed out that based on the current olefin and coke prices, the coke gasification to 600,000 tons/year olefin project is expected to bring a gross profit of about 2 billion yuan to the company after it is fully completed and put into operati.