China’s largest single refining and chemical integration project, known as Shenghong Petrochemical, started operation on Monday.
The 67.7 billion yuan (about $10 billion) project lies in E. China’s Jiangsu Province and is capable of processing 16 million tons of crude oil annually. It’s expected to reduce China's basic petrochemical raw material imports by some 10 percent.
The safety and environment investment of the project has reached 11 billion yuan (nearly $1.63 billion), about 16% of its total investment. Particularly noteworthy is the vinyl production system in the plant, which, thanks to the application of latest technologies, is expected to reduce energy consumption by about 15% and CO2 emission by about 2 million tons per year, equivalent of planting 20 million trees.
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