DALIAN CHINA DALIAN CHINA
Ethylene Project of Hengli Group for 1.5 Million Tons A Year Will Be Conducted in Changxing Island
2018-04-04

On April 3, the signing ceremony of the new ethylene project of Hengli Group for 1.5 million tons a year, with a total investment of 27 billion RMB, was held at the Bangchui Island Hotel.

Yi Qingtao, secretary of Municipal Government, presided over the ceremony. The ceremony was attended by Tan Zuojun(member of the Standing Committee of the Provincial Party Committee and secretary of the Municipal Party Committee),Tan Chengxu( deputy secretary of the Municipal Party Committee and mayor of Dalian), Xiong Boli (member of Standing Committee of Municipal Party Committee and secretary). On behalf of the three parties, Lu Lin (member of Standing Committee of Municipal Party Committee and executive deputy mayor of Dalian),Yang Guangzhi (secretary of the Party Working Committee of Changxing Island Economic Zone and director of the Administrative Committee) and Chen Jianhua (chairman of Hengli Group) signed the agreement. The principals of some banks were present at the ceremony, including Dalian Branch of China Development Bank, Liaoning Branch of Export-Import Bank; Dalian Branch of Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, China Guangfa Bank; Dalian Bank and Dalian Rural Commercial Bank.

It is reported that Hengli Petrochemical Industrial Park is located in Changxing Island Economic Zone in Dalian, covering an area of 15 square kilometers, with a total investment of more than 120 billion RMB. The first phase of the PTA project started construction in 2010 with a total investment of 34 billion RMB, annual production and sales of PTA 6.6 million tons, reaching production capacity in 2015. In December 2013, the People's Government of Dalian City, the Administrative Committee of Changxing Island Economic Zone, and the Hengli Group signed the“Petrochemical Investment Agreement” and the“Polyester Investment Agreement.”The two agreements regulated the details of the integration project for 20 million tons a year of Hengli Group and the polyester park project settled in the Changxing Island Economic Zone, with a total investment of 63 billion RMB. It started construction in 2015 and will be put into production in October this year.