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The 3 billion yuan fixed increase has passed the meeting, and China's first large-scale imported ethane cracking to ethylene project will be put into operation this year!

 Last Update: 2022-08-23
 Source: Internet
 Author: User

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Satellite Petrochemical announced on the evening of the 3rd that the Issuance Review Committee of the China Securities Regulatory Commission reviewed the application for the non-public issuance of A shares by Satellite Petrochemical on July 3, 2020

The first phase of the C2 project is expected to be put into operation by the end of 2020, and the fixed increase of 3 billion will be approved to ease the financial pressure

The company's non-public offering project is Lianyungang Petrochemical's annual output of 1.
35 million tons of PE, 2.
19 million tons of EOE and 260,000 tons of ACN combined plant, with a planned total investment of 33.
5 billion yuan, which will be constructed in two phases

It is planned to negotiate the lease agreement and ship transfer with the intended shipowner to ensure that the Lianyungang petrochemical project is put into operation on time

According to the announcement, in order to ensure the transportation of ethane, the raw material of the Lianyungang petrochemical project, US Satellite and SPMT jointly established ORBIT to build a US chemical raw material export facility, and signed a ship time charter agreement with the shipowner

Both PDH and ethane cracking selected by the company belong to the olefin route with the lowest raw material cost

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