Tianjin Bohai Chemical Launches a New Material Project
2024-7-4
Bohai Chemical announced in the evening of July 1 that the acrylate and superabsorbent polymer (SAP) new material project, invested and constructed by its wholly-owned subsidiary Bohai Petrochemical, has officially commenced.
According to the announcement, the project¡äs construction scale and main content include: a 160,000-tonne/year acrylic acid plant, a 30,000-tonne/year methyl acrylate/ethyl acrylate plant (with the capability to switch between methyl and ethyl acrylate production), a 160,000-tonne/year butyl acrylate/isooctyl acrylate plant (with the capability to switch between butyl and isooctyl acrylate production), a 40,000-tonne/year acrylic acid ice crystal plant, a 50,000-tonne/year SAP plant, and supporting public auxiliary facilities. The project covers a total area of approximately 100,000 square meters. The construction period is expected to last approximately 18 months, with operations projected to commence before the end of December 2025. The commencement of this project marks a new phase for the company in the chemical industry. The total investment for this project is estimated to be RMB 2.25 billion, with 30% sourced from self-raised funds and 70% through project loans. Upon completion, the project is expected to generate an average annual operating revenue of RMB 2.101 billion, an average annual total profit of RMB 189 million, and a net profit after tax of RMB 142 million.
Bohai Chemical stated that the implementation of this project is a crucial step in the company¡äs transformation and upgrading from propane dehydrogenation to downstream high-molecular-weight composite materials. The new products will fill the gap in products in the Beijing-Tianjin-Hebei region, meeting regional development needs while reducing the transportation of hazardous chemicals in the region and enhancing the region¡äs overall competitiveness. As the first domestic enterprise to construct and put into operation a PDH plant, the company has been committed to developing petrochemical industries such as olefins, providing high-quality petrochemical raw materials and products to Tianjin, the Beijing-Tianjin-Hebei region, and North China. The downstream acrylic acid project is a positive response to Tianjin¡äs strategy of "making the city strong in manufacturing," contributing to the high-quality development of Tianjin¡äs manufacturing industry. It is reported that upon completion, the project will further expand the company¡äs business scale, improve its industrial chain, and drive profit growth, positively impacting the company¡äs industrial layout, market expansion, and competitiveness enhancement, laying a solid foundation for its high-quality development.
According to the announcement, the project¡äs construction scale and main content include: a 160,000-tonne/year acrylic acid plant, a 30,000-tonne/year methyl acrylate/ethyl acrylate plant (with the capability to switch between methyl and ethyl acrylate production), a 160,000-tonne/year butyl acrylate/isooctyl acrylate plant (with the capability to switch between butyl and isooctyl acrylate production), a 40,000-tonne/year acrylic acid ice crystal plant, a 50,000-tonne/year SAP plant, and supporting public auxiliary facilities. The project covers a total area of approximately 100,000 square meters. The construction period is expected to last approximately 18 months, with operations projected to commence before the end of December 2025. The commencement of this project marks a new phase for the company in the chemical industry. The total investment for this project is estimated to be RMB 2.25 billion, with 30% sourced from self-raised funds and 70% through project loans. Upon completion, the project is expected to generate an average annual operating revenue of RMB 2.101 billion, an average annual total profit of RMB 189 million, and a net profit after tax of RMB 142 million.
Bohai Chemical stated that the implementation of this project is a crucial step in the company¡äs transformation and upgrading from propane dehydrogenation to downstream high-molecular-weight composite materials. The new products will fill the gap in products in the Beijing-Tianjin-Hebei region, meeting regional development needs while reducing the transportation of hazardous chemicals in the region and enhancing the region¡äs overall competitiveness. As the first domestic enterprise to construct and put into operation a PDH plant, the company has been committed to developing petrochemical industries such as olefins, providing high-quality petrochemical raw materials and products to Tianjin, the Beijing-Tianjin-Hebei region, and North China. The downstream acrylic acid project is a positive response to Tianjin¡äs strategy of "making the city strong in manufacturing," contributing to the high-quality development of Tianjin¡äs manufacturing industry. It is reported that upon completion, the project will further expand the company¡äs business scale, improve its industrial chain, and drive profit growth, positively impacting the company¡äs industrial layout, market expansion, and competitiveness enhancement, laying a solid foundation for its high-quality development.