Production at the massive petrochemical complex in the port city of Zhanjiang in south China's Guangdong province officially kicked off on Tuesday. The complex, operated by China Petroleum & Chemical Corporation (Sinopec) was put into operation after the successful docking and unloading of a VLCC crude oil tanker from the Middle East.
Guangdong province Party chief, Li Xi, formally announced the start of operations at the Zhongke (Guangdong) integrated refinery and petrochemical project during an online inauguration ceremony on Tuesday. The governor of Guangdong province, Ma Xingrui, noted during the ceremony that the complex will play an important role in accelerating the region's high-quality economic development. He added that the facility will go a long way in optimizing the development of the heavy petrochemical industry and promoting further advancements for years to come.
The facility, which is part of the Zhanjiang Integrated Refinery and Petrochemical Complex, is the biggest project constructed by Sinopec Corp. The New Renown tanker that docked at the 300,000-ton crude oil terminal officially kicked off operations of the Sinopec Zhongke Refinery, which was a key component in Guangdong's 13th Five-Year Plan. The project is expected to inject an accelerated economic momentum not only to the region but also to China's wider Greater Bay Area.
The total investment needed to complete the project is more than 44 billion yuan or $6.29 billion. The project is expected to generate profits of more than 60 billion yuan and taxes of more than 26 billion yuan per year. Guangdong claims that the facility should be able to refine more than 10 million tons of crude and around 800,000 tons of ethylene per year, contributing greatly to the region's economic development.
The petrochemical processing facility features eight terminals that include a 300,000-ton crude oil berth, one of the largest in the world, and several supporting facilities. The terminals provide direct access to Sinopec's chemical and refined oil products.
The executive director and Party chief of the project, Wu Xiwei, assured the public that the construction of the massive project only had minimal effects on the local environment and ecology. He added that they had adhered to all regulations under the environmentally protective development concept, with energy conservation, emissions reduction, and clean production all in mind.
Around 28 out of the 30 major production facilities have now been completed within the massive complex. More than 18,000 builders are working on-site. The entire facility is expected to be fully completed by the end of this month.
