The National Development and Reform Commission approves Dahua’s joint venture aromatics project private capital to hold large-scale petrochemical projects for the first time

On December 26th, the reporter learned from related parties in Dalian that the 700,000-ton/year joint aromatics project with a total investment of 4.5 billion yuan had been officially approved by the National Development and Reform Commission. This is the first domestic large-scale petrochemical project that is controlled by private enterprises.
It is understood that as one of the earliest large-scale chemical companies in China, Dahua Group's relocation and reconstruction project will start from the second half of this year. The Dahua relocation will be divided into two parts: The site for the new products such as methanol and aromatics will be selected in the Dagushan Development Zone; the old products such as soda ash and synthetic ammonia will be relocated to the Wafangdian Fuzhou Bay. The entire relocation investment is expected to exceed 7 billion yuan. By the end of 2007, the relocation and transformation will be completed and the project will be put into production. By then, Dahua's annual sales will rise to about 15 billion yuan. Among them, the joint aromatics project is currently one of the largest and most advanced similar projects in the world. After the project is put into production, it will fundamentally change the industrial layout of Dalian Petrochemical industry's long-term heavy oil refining and light chemical industry, and greatly enhance the competitiveness and influence of Dalian petrochemical industry. According to the current prices, after the project is completed, it will generate an annual sales income of more than 10 billion yuan, with an average annual profit of more than 2 billion yuan, and will change the status quo of 60% of China's aromatics rely on imports.
As one of the ten largest private enterprises in Dalian, Fujia Enterprise Group has developed into an integrated and diversified enterprise group after eight years of development. Since 2004, the Fujia Group has begun to expand into the petrochemical industry through a series of investment and capital operations, and is in tune with the Dahua Group, which is currently brewing and relocating. With the approval of the joint aromatics project by the state, all project funds have been put in place.
Dalian City mayor Xia Deren said that although Dalian's petrochemical industry is in the forefront of the country, our industry chain is relatively short, mainly in refining, and there are few products in the middle and lower reaches. Terephthalic acid and joint aromatics projects will fill the gaps in the city's petrochemical industry. In the past, our petrochemical industry was mainly state-owned and private enterprises participated in the relocation and transformation of large-scale enterprises, and it was more dynamic in terms of competition. This is a new breakthrough in the system of Dalian Petrochemical Industry.
It is reported that the Dahua Combined Aromatic Project also created a number of 'domestic firsts' such as environmental assessment and the State Environmental Protection Administration's approval efficiency and land pre-trial efficiency.

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