January 18, 2025 – Sinopec Approves Overall Design for Yueyang Ethylene Project, Marking Substantial Progress
Sinopec Group has officially announced the approval of the overall design for the ethylene section of the Yueyang Ethylene Project, expressing principled agreement on the project’s general process flow, construction scale, and product plan. This significant development signifies the advancement of the Yueyang Ethylene Project into a substantive implementation phase.
The Yueyang Ethylene Project, with a total investment of RMB 35.68 billion, stands as the largest single industrial investment in Hunan Province to date. The project encompasses 18 chemical plants, with the ethylene section set to include a new 1 million tons/year ethylene plant and 13 other key facilities such as a 500,000 tons/year pyrolysis gasoline hydrogenation unit. Additionally, the refinery supporting renovation section will feature four critical facilities, including a 3 million tons/year hydrocracking complex.
According to the Color Masterbatch Industry Network, upon completion and commissioning, the project is anticipated to generate an annual revenue of RMB 64.7 billion, with an annual investment contribution rate of approximately 15%, and is expected to stimulate investments exceeding RMB 150 billion. Currently, the refinery supporting renovation section of the ethylene project received approval on March 29, 2024, and has entered into substantial construction. The land leveling for the main site area of the ethylene section has been completed, with the project site officially handed over to Hunan Petrochemical. Pile testing works have also commenced smoothly. Furthermore, the supporting power and gas relocation works have been completed as scheduled, and the construction of roadworks, site leveling works in the Baling old district, and other supporting infrastructure is progressing at a brisk pace.