Core Viewpoint - The successful completion of the 1.2 million tons/year ethylene unit at China Petroleum's Guangxi Petrochemical Company marks a significant milestone in the integrated refining and chemical transformation project, which is a key initiative under China's 14th Five-Year Plan [1] Group 1: Project Overview - The total investment for the Guangxi Petrochemical integrated refining and chemical transformation project is 30.5 billion yuan, covering an area of over 4,400 acres [1] - The project includes the construction of 14 chemical units, including a 1.2 million tons/year ethylene cracking unit, and 2 refining units with a capacity of 2 million tons/year for diesel adsorption and desulfurization [1] - The project commenced construction on July 29, 2023, and has achieved several industry records during its development [1] Group 2: Technological Innovations - The project successfully addressed challenges related to the installation of oversized and heavy equipment, including the safe and precise positioning of a 1,760-ton propylene tower [1] - It promoted factory prefabrication and modular construction, transitioning from traditional on-site operations to a synchronized operation model of "one site + N factories" [1] - The project features the largest ethylene low-temperature tank in China and the first self-designed, procured, and constructed co-oxidation method for propylene oxide and styrene production unit [1] Group 3: Future Impact - The project is scheduled to commence production on October 18, 2025, and aims to transform Guangxi Petrochemical from a "fuel-type" refinery to a "chemical products and organic materials-type" enterprise [1] - It will enhance the high-quality development of China Petroleum's refining business and fill the gap in the high-end chemical new materials industry in the region [1] - The project is expected to meet market demands along the new western land-sea corridor and contribute to the establishment of a trillion-yuan green chemical new materials industry cluster in Guangxi, targeting ASEAN markets [1]