Rongsheng Petrochemical receives Zhejiang govt approval on α-olefin R&D, aims at breakthroughs in new materials
Jan 20, 2023 (China Knowledge) - "High-carbon α-olefins and ethylene-high-carbon α-olefin copolymers" undertaken by Zhejiang Petroleum & Chemical (ZPC), a subsidiary of Rongsheng Petrochemical (002493) together with other projects, have received approval and research funding from the Zhejiang Provincial Research and Development Program and other government R&D funding.
These R&D activities involve major scientific and technological plan established by Zhejiang province to promote core technology breakthroughs in accordance with national strategic requirements, industrial planning layout and market demand. The approved projects in Zhoushan island where ZPC located will boost R&D investment more than RMB 160 mln.
In addition to styrene, polyethylene (PE), and ethylene oxide (EO) / ethylene glycol (EG), ZPC's olefin product line also offers vinyl acetate (VA), ethylene-vinyl acetate copolymer (EVA), and 1-hexene (with an annual capacity of 50,000 tons). High-carbon α-olefin, which is a scarce resource in China, is key material for the production of advanced polyolefin and polyene elastomer (POE). This project is expected to expand ZPC's business in the advanced polyolefin market and to gain products differentiation with strong competitive edge.
Last August, Rongsheng Petrochemical issued an announcement on investing in advanced new material projects constructed by ZPC, with an estimated investment of RMB 64.1 bln, to further expand its 40 mln tons per annum (T/A) integrated refining and chemical project.
These production facilities could churn out an annual output of 350,000 ton α-olefin, 400,000 ton POE, 80,000 ton polybutene-1, 1 mln ton acetic acid, 600,000 ton vinyl acetate, 300,000 ton EVA/LDPE, 300,000 ton adipic acid and will also include other associated utilities plants.
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