Jiangsu revs up major investment project construction

East China’s Jiangsu province has stepped up the construction of major investment projects and ensured their smooth progress through every possible effort so as to ensure a flying start for social and economic development in 2024. JSBC has the story.

On January 5th, Shenghong Petrochemical's high-end material PETG unit produced qualified products, marking the successful one-time production of the largest PETG unit in China with independent intellectual property rights.

PETG is a high-end green polyester new material, with toughness 15 to 20 times that of current general acrylic, strong chemical resistance, and can be widely used in special containers, high-end film materials, medicine and health, and other fields.

Long term industry barriers have led to foreign companies mastering China's mainstream PETG industrial production technology and products for a long time.

“Our equipment has been put into operation, breaking the monopoly of foreign enterprises on our market. Our products will account for about 40% of the domestic market,” said Guo Bangli, General Manager of Jiangsu Honggang Petrochemical Co., Ltd.

The comprehensive operation of the device has increased the annual production capacity of PETG to 130 thousand tons, ranking first in China and third in the world. The project has connected key links in the industrial chain of new materials from basic raw materials to high-end products, significantly enhancing their value.

On January 5th, the Lianyungang Petrochemical Industry Base signed contracts for six projects, including the Shenghong Petrochemical Aromatic Industry Chain and Zhongsheng Smart Pipeline Hospital, which will bring in an investment of 46.2 billion yuan to empower high-quality economic development in the new year.

“The implementation of these projects will usher in a new era of development for Xuwei New Area, making it an important application scenario and production site for national chemical new materials and becoming a new growth pole for green petrochemical development,” said Xu Xiaosu, Deputy Director of the Xuwei New Area Management Committee in Lianyungang City.

In the city of Huai’an, engineering vehicles kept shuttling back and forth at the construction site of the wharf of Zenith Iron and Steel Group Huai'an New Materials Co., Ltd. Project, a provincial major investment project.

According to the plan, six 1000-ton general cargo berths and three 1000-ton multi-purpose berths will be constructed at the terminal. The construction of the main structure has been completed, and the hydraulic structure has also passed quality inspection and acceptance, meeting the berthing conditions for ships.

The company has completed the construction of the main structure of Steel Curtain Line Plant 1 with some production lines have been put into operation.

“We expect to achieve full production capacity by April or May 2024. we are fully booked now, so we will produce 24 hours a day without interruption,” said Zhang Xiaolong, Assistant to the Plant Manager of Steel Cord Plant 1 of Zenith Iron and Steel Group (Huai'an) New Materials Co., Ltd.

As the first major project in Huai'an, the 20-billion-yuan Zhongtian Steel project, which produces automotive radial tire frame materials, will contribute over 20 billion yuan in annual sales, provide 8000 jobs, and generate an annual tax revenue of over 1.5 billion yuan.