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INEOS and Sinopec initial agreements to form 1.2 million tonne cumene, phenol and acetone Joint Venture to be based at the Nanjing Chemical Industrial Park in Jiangsu Province, China

INEOS’ largest investment in China.

China Environmental Impact Assessment (EIA) approval from relevant Chinese government authority is a major step forward for project  to build the largest Phenol facility in China.


INEOS Phenol and Sinopec Yangzi Petrochemical Company (Sinopec YPC) have today initialled joint venture agreements for the design, build and future operation of a 1.2million tonne cumene, phenol and acetone complex at the Nanjing Chemical Industrial Park in Jiangsu Province, China. It is currently expected that the project will be completed by the end of 2015. 

The partnership will benefit from Sinopec’s local feedstock advantages and cumene technology and INEOS’ proprietary phenol technology.  The annual capacity of the new facility will be at least 400,000 tonnes of phenol and 250,000 tonnes of acetone making it the largest plant of its kind in China. The facility will also include 550,000 tonnes/year of cumene capacity. Together, with the corresponding infrastructure, the Joint Venture will be the largest capital investment ever undertaken by INEOS in China and opens new opportunities for the company to meet the needs of the rapidly growing market.

The location of the plant in Nanjing, Jiangsu Province places it at the centre of China's largest market for both phenol and acetone. Following the completion of this project INEOS Phenol will further strengthen its leading position and will be the only company to have global manufacturing capability, with phenol and acetone production in Europe, the USA, and Asia.

In November 2012 INEOS Phenol and Sinopec YPC received approval of their Environmental Impact Assessment from Environmental Protection Bureau of Jiangsu Province to proceed with the proposed project to build the facility. The Ministry agreed that the proposed project is in accordance with national and local industrial policy in the Jiangsu Province. The approval of the EIA followed a detailed analysis and evaluation of the overall safety, health and environmental impact of the project. This EIA approval and the initialled joint venture agreements are a major step towards the formation of the Joint Venture.

The project is the largest capital investment ever undertaken by INEOS and will establish the largest Phenol facility in China. This mutually beneficial partnership is an important development for INEOS Phenol and for INEOS in China. Combining a strong, local partner like Sinopec YPC with our phenol technology and access to the market brings considerable value to our business and to our customers,” said Harry Deans, CEO of INEOS Phenol.  

I am pleased that we have agreed and initialled the Joint Venture with INEOS. This important partnership is consistent with Sinopec’s strategic focus on integration and growth. Our established presence, competitive edge and cumene technology, combined with INEOS’ leading phenol technology, puts us in a strong position to meet growing demand for downstream petrochemical products, in the region.” said Dr Ma Qiulin, CEO of Sinopec YPC.

INEOS Phenol is the world’s largest manufacturer of phenol and acetone with sites in Germany, Belgium, and USA (Alabama). China is the world's fastest growing market for phenol and acetone and Sinopec is China's leading producer of phenol and acetone with three production sites in Shanghai, Beijing, and Tianjin. 

ENDS

 

For further information contact: 

Richard Longden – INEOS - Tel: +41 (0) 21 627 7063

 

Note to editors:

INEOS Phenol, (http://www.ineosphenol.com) currently has a nameplate capacity of 1.9 million tonnes per annum of phenol and 1.1 million tonnes per annum of acetone a year. It has a turnover of around €3.9 billion and employs over 600 people worldwide. The company is the world's largest producer of Phenol and Acetone and the only manufacturer with production facilities both in Europe and America.

It is expected that the production from the JV facility with Sinopec YPC will serve the growing market for phenol and acetone in China and will free capacity at INEOS’ European and US plants to meet growth in these regions. The completion of this new plant in China will increase INEOS Phenol’s overall annual capacity to over 2.3 million tonnes of phenol per annum and 1.4 million tonnes of acetone per annum

Sinopec Yangzi Petrochemical Company Limited (http://ypc.com.cn)  (former name Yangzi Petrochemical Co., Ltd. which was established in September 1983) is a wholly-owned subsidiary under China Petroleum & Chemical Corporation. The Company is mainly engaged in refining crude oil, Ethylene & Aromatics production, producing and marketing hydrocarbon derivatives. At present, the Company operates more than 60 sets of large-scale petrochemical units, including 8 million t/a crude oil processing, 650 kt/a ethylene, 1.4 million t/a aromatics, 1.05 million t/a purified terephthalic acid (PTA), 870 kt/a plastics, 300 kt/a ethylene glycol and 210 kt/a butadiene and produces more than 9 million t/a products, covering over 60 varieties in 5 categories, i.e. polyolefin plastics, polyester feedstock, basic organic chemical raw materials, product oil, synthetic rubber. The Company is currently one of the largest suppliers of pure benzene, para-xylene, ortho-xylene, PTA, ethylene glycol, butadiene and ethylene oxide in China, with annual sales revenue of almost 77 billion Yuan RMB.


中石化和英力士就成立一家年产120万吨的异丙苯/苯酚/丙酮合资企业草签了协议。该项目拟建于中国江苏省南京化学工业园区,是英力士在中国投资的最大项目。

该项目的环境影响评估报告(EIA)已经取得了中国相关政府部门的审批,为双方建设中国最大的苯酚装置项目跨出了关键一步。 


  中石化扬子石油化工有限公司和英力士苯酚公司今天就其在中国江苏省南京化工园区设计、建造和经营一套年产120万吨异丙苯、苯酚和丙酮装置草签了所有的合资合作协议。目前预计该项目将于2015年底竣工。

该项目的合作方将受益于中石化本地原料的供应优势和异丙苯技术专利以及英力士专有的苯酚专利技术。该新建项目的生产规模为至少年产40万吨苯酚及年产25万吨丙酮,将是国内目前最大的同类型装置。该装置还包括了一套年产55万吨异丙苯的生产装置。该合资项目及其配套基础设施是目前英力士在中国进行的最大资本投资,为该公司满足快速增长的市场需求创造了条件。

该项目所在地江苏省南京市处于中国最大的苯酚丙酮市场的核心位置。在该项目竣工后,英力士苯酚公司将能进一步加强其市场主导地位,并将成为唯一拥有全球生产能力的,在欧洲、美国和亚洲都拥有苯酚丙酮生产装置的公司。

2012年11月,扬子石化和英力士苯酚获得了江苏省环保厅对该项目环评报告的审批以及进行计划项目设施建设。环保部认为该拟建项目符合国家和江苏省的地方工业政策。环评报告是在对项目的整体安全、健康和环境影响进行了详细分析论证和评估之后获得审批的。该环评批复以及合资公司草签的协议, 是合资公司成立的关键一步。

“该项目是英力士的最大资本投资项目,项目建成后将成为中国最大的苯酚装置。这种互惠互利的合作关系对于英力士苯酚公司以及英力士中国是一个十分重要的发展。中石化扬子石化在中国本地的强大优势与英力士的苯酚专利技术的联手将给市场及我们的业务及客户带来相当大的价值,”英力士苯酚公司首席执行官Harry Deans先生说。

“我十分高兴我们与英力士达成一致并草签了合资经营合同。该重要的合作伙伴关系符合中石化的一体化发展战略。中石化在中国的市场地位、竞争优势及异丙苯技术与英力士领先的苯酚技术相结合,使我们有足够的能力可以满足该区域下游石化客户的产品增长需求。”中石化扬子石化总裁马秋林博士说。

英力士苯酚公司是全球最大的苯酚丙酮制造商,在德国、比利时和美国(阿拉巴马州)均运营有苯酚丙酮生产装置。中国是全球增长最快的苯酚丙酮市场,而中石化是中国主要的苯酚丙酮制造商,在上海、北京和天津均有苯酚丙酮生产装置。

如您想进一步了解更多信息,请联系:

Richard Longden – 英力士 – 电话: +41 (0) 799 626 123

与扬子石化合资的装置生产的产品预计将供应中国日渐增长的苯酚丙酮下游市场,同时英力士在欧洲和美国的装置也将满足这些地区的增长需求。在中国的这套装置竣工之后,英力士苯酚公司的生产总规模将超过230万吨/年苯酚和140万吨/年丙酮。 

与扬子石化合资的装置生产的产品预计将供应中国日渐增长的苯酚丙酮下游市场,同时英力士在欧洲和美国的装置也将满足这些地区的增长需求。在中国的这套装置竣工之后,英力士苯酚公司的生产总规模将超过230万吨/年苯酚和140万吨/年丙酮

 中国石化扬子石油化工有限公司(http://ypc.com.cn)(其前身是成立于1983年9月的扬子石油化工公司)是中国石油化工股份有限公司旗下的全资子公司。公司主要从事石油炼制以及乙烯、芳烃等烃类及衍生物的生产销售。公司目前拥有60多套大型石化装置,囊括了800万吨/年原油加工装置、65万吨/年乙烯装置、140万吨/年芳烃装置、105万吨/年纯化对苯二甲酸(PTA)装置、87万吨/年塑料装置、30万吨/年乙二醇装置以及21万吨/年丁二烯装置,每年所生产的产品超过900万吨,涵盖5个种类(即聚烯烃塑料、聚酯原料、基本有机化学原料、成品油和合成橡胶)、60个品种。公司目前是中国最大的纯苯、对二甲苯、邻二甲苯、PTA、乙二醇、丁二烯及环氧乙烷生产商之一,其年销售收入约为770亿元人民币