September 26, 2024 – Hebei Xinhai Holding Group Unveils Ambitious Chemical New Materials Base Project in Gangcheng Industrial Park
In a grand ceremony held within the petrochemical cluster of Gangcheng Industrial Park, Hebei Xinhai Holding Group announced the launch of its groundbreaking Chemical New Materials Base Project, a monumental undertaking with an investment of RMB 25.4 billion. The project aims to produce an array of high-end chemical materials, encompassing aromatics, olefins, butyl-octyl alcohol, propylene oxide, polyisobutylene, and MTBE, among others.
As the first enterprise in Hebei Province to hold both the import crude oil use right and import license, approved by the National Development and Reform Commission and the Ministry of Commerce, Hebei Xinhai Holding Group boasts formidable strength. Over the years, the Group’s outstanding performance has consistently earned it prestigious accolades such as “Top 500 Chinese Enterprises” and “Top 500 Chinese Private Enterprises,” underscoring its preeminent position within the industry.
According to AsiaMB’s insights, the Chemical New Materials Base Project will unfold in two phases. Phase I will prioritize the construction of facilities for crude oil conversion, light hydrocarbon recovery, light oil pretreatment, aromatic conversion, light hydrocarbon aromatization, aromatic extraction, toluene disproportionation, gas fractionation, propane-butane dehydrogenation, and MTBE production. Additionally, supporting installations for PSA, sulfuric acid, and sulfur recovery will also be established. Upon completion, Phase I is projected to yield an annual output of 539,900 tons of benzene, 1,014,100 tons of mixed xylene, and 327,300 tons of MTBE (with a total annual capacity of 669,300 tons upon the conclusion of both phases).
Phase II, meanwhile, will embark on an expansion drive, introducing new units for slurry-bed residue hydrogenation, crude oil conversion, aromatic conversion, aromatic extraction, toluene disproportionation, PSA, POX, hydrogen peroxide, propylene oxide, butyl-octyl alcohol, and sulfuric acid production. This expansion is poised to significantly enhance the project’s overall production capacity and market competitiveness, further solidifying Hebei Xinhai Holding Group’s position as a leading force in the chemical new materials sector.