Core Viewpoint - The establishment of the joint venture company, Fujian Zhong-A Refining and Chemical Co., Ltd., marks a significant investment in the refining and chemical sector, with a total investment of 711 billion RMB, focusing on the integrated refining and chemical project in Fujian [3][4]. Group 1: Joint Venture Details - The joint venture was officially registered on September 4, with a registered capital of 28.8 billion RMB, where Fujian Refining and Chemical Co., Ltd. holds 50%, Sinopec holds 25%, and Saudi Aramco's subsidiary holds 25% [3]. - This project is the largest single investment in refining by Sinopec and the largest industrial project in Fujian province to date, representing a new model of energy cooperation between China and Saudi Arabia [3]. Group 2: Project Investment and Construction - The total investment for the project is 711 billion RMB, with plans for full production by 2030, including the construction of over 30 refining and chemical units [4]. - Key refining capacities include: 16 million tons/year of atmospheric distillation, 3.8 million tons/year of light hydrocarbon recovery, and various hydrogenation and cracking units [4]. - Chemical production will include: 1.5 million tons/year of steam cracking, 600,000 tons/year of hydrogenation of cracked gasoline, and multiple other chemical units [4]. Group 3: Saudi Aramco's Strategic Moves - Saudi Aramco's downstream president stated that this project signifies a new step in their investment in China, with plans to supply over 1 million barrels of crude oil daily to China, enhancing the "oil-to-chemicals" transition [5]. - Saudi Aramco has been actively increasing its market presence in China, with significant investments and partnerships, including a recent agreement with Rongsheng Petrochemical [5]. - The company aims to participate in various large-scale refining and chemical projects in China, indicating a strategic focus on the Chinese market [6][7].

自2023年项目开工以来，数万名项目建设者扎根辽东湾项目现场。在28个月的光阴里，这片碱蓬草遍布 的荒滩，如今已成为塔罐林立、轮廓尽显的化工新城。据中石化第四建设有限公司项目经理王占山介 绍，项目团队通过科学组织、高效协同，在土建、钢结构、设备、管道、电气等各环节施工中实现了无 缝衔接，最大限度地压缩了施工周期，同时提升了整体建设质量。 当日竣工的装置有硫磺回收装置、酸性水汽提装置、溶剂再生装置、40万吨/年焦化石脑油加氢装置、 160万吨/年煤柴油加氢装置、180万吨/年汽油加氢装置、2套50万吨/年聚丙烯装置、20万吨/年高密度聚 乙烯装置、45万吨/年全密度聚乙烯装置、30万吨/年环氧丙烷装置。 据悉，项目位于辽滨沿海经济技术开发区，总投资837亿元，主要建设内容包括新建1500万吨/年炼油、 165万吨/年乙烯、200万吨/年PX等32套生产装置及配套设施。 7月29日，华锦阿美精细化工及原料工程项目建设工作迎来重要进展，硫磺回收等11套装置实现同日机 械竣工，并全面进入"三查四定"工作，项目由"建设期"转入"生产准备期"。 下一步，华锦阿美项目团队将严格按照规范要求，扎实有序推进"三查四定"工作，全 ...

Core Viewpoint - The successful completion of key construction milestones for major polyethylene and polypropylene projects by Sinopec Ningbo Engineering Company highlights its leading position in the polyolefin industry and its commitment to innovation and high-quality development [1][4]. Group 1: Project Achievements - The 600,000 tons per year metallocene polyethylene unit at the Zhongsha Gulei Ethylene Project has completed its steel structure module hoisting, positioning it as one of the largest single-series polyethylene production facilities globally [1]. - The 2×500,000 tons polypropylene units at the Huajin Aramco fine chemical and raw material engineering project have completed the installation of the last reactor stirrer, setting a record for the largest single-line capacity in Novolen polypropylene technology [1]. Group 2: Company Background and Expertise - Sinopec Ningbo Engineering Company has over 40 years of experience in the construction of polyolefin facilities, with a strong technical foundation and engineering advantages established since the 1970s [2]. - The company has completed the engineering design and EPC contracting for 45 polyolefin facilities since 2000, with a cumulative capacity of 15 million tons [3]. Group 3: Strategic Development - The company is advancing multiple benchmark projects in the high-end polyolefin sector, including the Zhongsha Gulei and Huajin Aramco projects, as well as the Lianyungang Petrochemical Alpha-olefin comprehensive utilization project [4]. - The strategic focus on innovation and collaboration within the industry chain is aimed at supporting the high-quality development of China's polyolefin industry [4].