Satellite Chemicals Co., Ltd. announced on June 19 that on June 17, it signed an investment project cooperation agreement with the Management Committee of the National East-Central-West Regional Cooperation Demonstration Zone (Lianyungang Xuwei New Area). The company plans to invest in and construct a high-end new materials industrial park for comprehensive utilization of alpha-olefins (α-olefins) in Xuwei New Area.
The total investment for the project is approximately RMB 25.7 billion, of which approximately RMB 20.8 billion is for fixed assets. The main construction content includes a 2.5 million-ton/year... The project includes a light alpha-olefin feedstock unit, five 100,000-ton/year alpha-olefin units, three 200,000-ton/year POE units, two 500,000-ton/year high-end polyethylene (metallocene) units, two 400,000-ton/year PVC integrated utilization and supporting units, a 15,000-ton/year polyalpha-olefin unit, a 50,000-ton/year ultra-high molecular weight polyethylene unit, a by-product hydrogen carbon reduction and resource utilization unit, and LNG storage tanks.
Satellite Chemicals stated that the project, based on the Lianyungang Petrochemical Co., Ltd. production base, strategically utilizes its independently developed high-carbon alpha-olefin technology to extend downstream into high-end polyolefins (mPE), polyethylene elastomers (POE), lubricating oil base oils (PAO), ultra-high molecular weight polyethylene (UHMWPE), and other new materials. Simultaneously, it will utilize by-product hydrogen to achieve the project's carbon reduction target.
