Sinochem to Invest RMB 13.9 Billion in C3 Chemical Project


On February 18, Sinochem International (600500.SH) announced its subsidiary Jiangsu Ruiheng New Materials Technology Co., Ltd. will invest RMB 13.913 billion into the first phase of C3 (3-carbon) chemical project. It is a strategic business layout of the company, a major move to tap into the potential of China’s advanced materials industry.

The C3 project aims to set up a chemical plant in the suburb of Lianyungang city. It is designed to produce advanced materials related chemicals derived from propane (an alkane with 3-carbon chain). Upon completion in June 2022, it is expected to yield 600,000 tons of PDH, 650,000 tons of phenol-acetone, 240,000 tons of BPA, 400,000 tons of PO and 150,000 tons of ECH each year.

The project leverages mostly self-developed technology innovations while also introduce international advanced technologies to build a circular economy with integrated supply chains featuring high tech, low cost, green process, and high resource utilization. 

Sinochem International also announced another plan to invest RMB 1.3 billion to construct storage terminals in Sinochem Circular Economy Industrial Park in the suburb of Lianyungang city.

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