Refining Capacity of the Base Surpasses 50 Million Tons per Year

NINGBO, China, Dec. 26, 2024 -- China Petroleum & Chemical Corporation's (HKG: 0386, "Sinopec") recently announced the mechanical completion of the second-phase expansion and advanced materials project at its Zhenhai Refinery. This milestone sets new benchmarks for innovation, smart manufacturing, and energy efficiency in large-scale projects. The refinery's capacity has now been upgraded to 40 million tons per year, contributing to the Zhejiang Ningbo Petrochemical Industrial Base surpassing a total refining capacity of 50 million tons annually. The achievement solidifies its position as China's largest, most advanced, and globally competitive petrochemical industrial base.

Located in the Yangtze River Delta, a key downstream product consumption hub, the Zhejiang Ningbo Petrochemical Industrial Base plays a vital role in Sinopec's value chain. The second-phase expansion and advanced materials project, with a total investment of CNY 41.6 billion, incorporates 18 production units, including atmospheric distillation, catalytic cracking, polypropylene, and propane dehydrogenation units. By emphasizing chemical-focused processes, the project creates multiple high-value-added supply chains.

The facility's expanded production capacity supports the development of high-end polyolefins, advanced materials, and specialty chemicals. It is expected to provide approximately 8 million tons of petrochemical products annually, significantly boosting the overall capacity of supply chains for industries such as automotive, home appliances, and textiles in the region. This expansion is forecast to generate trillions of yuan in upstream and downstream industrial value.

The project achieved remarkable progress in technological innovation and sustainability. Highlights include:

• Localization of 10 core technologies, including the world's highest-load vertical labyrinth compressor.
• Extensive deployment of smart technologies, enabling simultaneous delivery of digital and physical factories.
• Integration of a fully localized industrial operating system and a self-developed industrial internet platform to enhance decision-making and management.
• Implementation of comprehensive energy-saving measures, achieving an overall reduction in energy consumption of 11.7%.
• Safety and quality were paramount during construction, with over 90 million consecutive safe man-hours recorded and a 100% quality pass rate for all units, setting a new industry benchmark.

Zhenhai Refinery, Sinopec's largest integrated refining and chemical enterprise, boasts an ethylene production capacity of 2.2 million tons per year. It is also the only enterprise in China consistently ranked in the top performance group of the Solomon Global Ethylene Performance Evaluation.

Photo - https://mma.prnewswire.com/media/2587658/Sinopec_Completes_Construction_China_s_Largest_Petrochemical_Industrial_Base.jpg

Logo - https://mma.prnewswire.com/media/960416/SINOPEC_Logo.jpg