[Fine chemical and raw material engineering officially started] On March 29, 2023, the fine chemical and raw material engineering project jointly built by China and Saudi Arabia officially started construction in Liaobin Coastal Economic and Technological Development Zone, Panjin City, Liaoning Province. The fine chemical and raw material project is jointly funded by Huajin Group, Saudi Aramco, and Panjin Xincheng Group, a subsidiary of China North Industries Group, and implemented by Huajin Aramco Petrochemical Co., Ltd., covering a total area of 8.9 square kilometers with a total investment of 83.7 billion yuan , mainly constructing 15 million tons/year oil refining and 32 sets of process units such as ethylene and PX, as well as supporting public works and auxiliary facilities. The project is expected to be mechanically completed in 2025, and the annual sales revenue will exceed 100 billion yuan after it is put into production. This project is a major cooperation project jointly witnessed and promoted by the heads of state of China and Saudi Arabia. It is a major project to implement the national revitalization strategy of Northeast China and China's Belt and Road Initiative. It is a key project listed in the national plan. An important part of the petrochemical industry chain is the key to Panjin's construction of an important national petrochemical and fine chemical industry base. At present, Panjin City is focusing on the planning of 32 sets of oil refining and chemical equipment in the overall design of the project, focusing on new chemical materials and high-end fine chemical products. Carefully packaged 30 industrial projects, laid out a batch of fine chemical projects, and built six major industrial clusters. After the project is completed and put into operation, Panjin City’s ethylene production capacity will be doubled, PX production capacity will grow from scratch, and the sources of raw materials for the petrochemical industry will be diversified. , promote the extension of the petrochemical industry to downstream industries such as high-end polyolefins, and realize the transformation from fuel to materials. At that time, the output value of Panjin's petrochemical and fine chemical industry will exceed 400 billion yuan, accounting for one-third of the petrochemical industry in Liaoning Province, which can effectively enhance the overall strength and competitiveness of Liaoning's petrochemical industry. Editor/He Yuting

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