PetroChina to Funnel in CNY 21B to Construct Petrochemical Complex
By: Asia Business Outlook Team | Saturday, 30 September 2023
On Sept 29, China's Dushanzi Petrochemical Corp, a subsidiary of national oil and gas major PetroChina, announced the start of the building of a 21.88 billion yuan ($3.00 billion) petrochemical complex in the resource-rich region of Xinjiang.
According to Dushanzi Petrochemical's official WeChat account, the complex has 11 important facilities, including a 1.2 million metric tonnes per year (tpy) ethylene plant, two 450,000-tpy full-density polyethylene units, and a 400,000-tpy polypropylene unit.
When completed, the Dushanzi factory will have a total ethylene capacity of 3 million tonnes annually, making it one of the country's largest.
PetroChina plans to open the new complex in 2026 and power it entirely withrenewable energy, as Xinjiang is abundant in wind and solar resources.