Sinopec puts China's largest petrochemical port in operation

Sinopec Corp (HKG: 0386), the company for energy and chemicals from China , put into operation the largest petrochemical port China , with the successful docking and unloading of the New Renown crude oil tanker (VLCC) from the Middle East. The tanker was received in the new 300,000 ton oil terminal in the Port of Zhongke refinery of Sinopec, which is part of the production model "terminal in front, behind plant" ( " terminal front, rear plant ") company.

Built 1,100 meters from Sinopec's refinery, the petrochemical port has eight terminals, including a 300,000 ton tanker berth, a 100,000 ton tanker berth and support facilities - providing a total capacity of 34 million tonnes per annum. So far, the 100,000 ton cradle for oil tankers is the largest domestic refined oil terminal, with a loading and unloading capacity of 5.61 million tonnes per year. The terminal provides convenient access to refined oil and chemicals to Sinopec's main domestic markets, while offering opportunities for global exports and increasing Sinopec's competitiveness in the sector.

Situated on the east coast of Zhanjiang, Province of Guangdong , the Port Refinery Zhongke Sinopec is part of the Integrated Refinery Complex and Petrochemical Zhanjiang - the largest project of its kind being built by Sinopec Corp and an essential component do13o Five-Year Plan of the Province and Guangdong . The total investment in the first phase of the project totals more than CNY $ 40 billion and will add more than 10 million tons of capacity for refined crude oil and 800,000 tons of ethylene units per year, in addition to auxiliary support units.

Upon completion, the refinery's yield is expected to exceed CNY $ 60 billion. Additional income will assist in the development of the downstream industrial chain in the refinery and chemical sectors, while injecting a new impact on the economic development of the Greater Bay Area.

There are currently more than 18,000 builders working on site as part of the project, and 28 of the top 30 production units have already been delivered. The final project is expected to be fully completed and put into production by the end of July.