On January 5th, Xuwei New Area in Lianyungang, Jiangsu Province held a centralized project signing event for the first quarter of 2024. A total of 6 projects were signed, with a total investment of 46.2 billion yuan. Among them, the signed Shenghong Petrochemical aromatics industry chain project with a total investment of 37.45 billion yuan is particularly eye-catching.

The Shenghong Petrochemical aromatics industry chain project is regarded as an important support for Shenghong to build a high-end and differentiated industrial cluster. Miao Hangen, Chairman of Shenghong Holdings Group Co., Ltd., stated that Shenghong has been rooted in Xuwei New Area for 14 years and has invested nearly 200 billion yuan cumulatively. The aromatics industry chain project signed this time is an important measure for Shenghong Group to strengthen, supplement and extend the chain, and will provide raw material guarantees for Shenghong's future industries such as new materials and new energy.

As early as 2010, Shenghong actively extended its industrial chain, moving north from Suzhou to Lianyungang, relying on port advantages, location advantages, and industrial advantages to build a new type of petrochemical industry cluster. The planned area of the industrial park for this project is about 16 square kilometers, integrating production and research and development, logistics support, and other functions. It adheres to the integration of refining and chemistry, and the balanced development of the entire high-end new materials industry chain. It is a highly influential pillar brand among the seven world-class petrochemical industry bases in China.

At present, Shenghong has invested nearly 200 billion yuan in Lianyungang and has laid out multiple major projects, including 16 million tons/year integrated refining and chemical, 2.4 million tons/year alcohol based polygeneration, 700000 tons/year propane industry chain, 3.9 million tons/year PTA, etc. In addition, it is also fully equipped with a 5 million cubic meter storage tank area, Jiangsu's first 300000 ton crude oil berth, multiple 100000 to 50000 ton liquid chemical berths, and cogeneration projects.

The signing of the Shenghong Petrochemical aromatics industry chain project will undoubtedly further promote the economic development of Xuwei New Area in Lianyungang and the entire Jiangsu Province, and also contribute to enhancing China's position and influence in the world petrochemical industry. Editor/Cheng Liting