The total investment is about 23 billion yuan! Sinopec's 500,000-ton PGA project resumed

On October 17, 2022, on the construction site of the PGA project of Sinopec Great Wall Energy and Chemical (Guizhou) Co.
, Ltd.
(hereinafter referred to as "Guizhou Energy"), bulldozers and loaders were shuttling back and forth, slope trimming, support, diversion construction with gullies, and earth and rock excavation and filling were being carried out
in an orderly manner.
Up to now, 2 supervision companies and 10 construction projects have resumed construction, and there are more than 500 on-site operators
.

Affected by the epidemic, on September 8, the company's PGA project construction pressed the "pause button"
.
With the improvement of the epidemic situation in the project location, the company timely launched the "fast forward button" for resuming work, established a work group for resuming work, set up a special work class, held a project resumption promotion meeting, efficiently coordinated project construction, and steadily promoted the resumption of work and construction of PGA projects under the premise of ensuring epidemic prevention and control and safe construction
.

Project Overview

1.
Project name

Sinopec Great Wall Energy & Chemical (Guizhou) Co.
, Ltd.
's 500,000 tons/year polyglycolic acid (PGA) project is a new project
.

2.
Construction site

New energy and chemical base (Moda Village) in Zhijin County,
Bijie City, Guizhou Province.

3.
Construction content

The proposed 500,000 tons/year polyglycolic acid project, of which the first phase will be completed with a scale of 200,000 tons/year, to be completed in 2024; The second phase will be completed with a scale of 300,000 tons/year of polyglycolic acid, which will be completed
in 2026.

The construction content of the project includes coal gasification plant, gas cryogenic separation device, coupling and hydrogenation device, polyglycolic acid plant, supporting the construction of cogeneration plant and air separation unit
.

The total investment of the project: 2376767 million yuan, of which the total investment of the first phase of the project is 1233160 million yuan, and the total investment of the second phase is 1143607 million yuan
.

Sinopec Guizhou Energy Chemical Company

Sinopec Guizhou Energy Chemical Company is jointly funded by
Great Wall Energy and Chemical Co.
, Ltd.
(99% shares) and Biyun Construction Investment and Development Co.
, Ltd.
(1% shares).
The 500,000 tons/year polyglycolic acid (PGA) project is a key project of the "14th Five-Year Plan" development plan of Guizhou Province and a demonstration project of Sinopec to promote the industrialization of cutting-edge technology of coal chemical industry, located in the new energy and chemical base
of Zhijin County, Bijie City, Guizhou Province.

According to the "Framework Agreement on Comprehensively Promoting High-quality Development Strategy" signed between Sinopec and Guizhou Province, the feasibility study report of the first phase of the 500,000 tons/year polyglycolic acid (PGA) project in Guizhou was approved by the group company on June 21, 2021, and the project construction has entered the fast lane
rapidly.