CNCEC Secures RMB 312.67 Billion in Contracts in First Ten Months
CNCEC Secures RMB 312.67 Billion in Contracts in First Ten Months
China National Chemical Engineering Corporation (CNCEC) has announced the signing of new contracts valued at a total of RMB 312.67 billion between January and October this year, according to a business update released on November 21.
The state-owned enterprise secured 3,921 contracts during the ten-month period. Domestic contracts accounted for RMB 252.61 billion of the total, while overseas contracts amounted to RMB 60.06 billion. Within the overall figures, sales contracts specifically for industrial and new materials totaled RMB 8.674 billion.
A breakdown of the report shows that the core chemical engineering sector represented the bulk of the activity, with 2,071 contracts signed, totaling RMB 249.605 billion. The company also highlighted that in the month of October alone, it secured ten major contracts, each with a value exceeding RMB 500 million.
New Xinjiang Coal Chemical Plant Becomes Operational
In a separate development, a major new coal chemical project in Xinjiang, constructed by a subsidiary of CNCEC, has successfully commenced operations. The No. 1 and No. 2 urea units of the Resource Clean and Efficient Comprehensive Utilization Integrated Project, built by the Xinjiang Branch of China National Chemical Engineering No.13 Construction Co., Ltd., have achieved successful first-time startup trials, with the first batch of urea products meeting all national standards.
The project, located in the Erdaohu Industrial Park in Hami City, was completed in a period of just eight months from commencement to the production of qualified products.
The facility utilizes advanced aerospace furnace pulverized coal pressurized gasification technology. It is designed to establish a closed-loop circular economy model aimed at minimizing carbon emissions and achieving the efficient and clean utilization of coal resources. Upon reaching full production capacity, the project is projected to yield 600,000 tons of synthetic ammonia and 1 million tons of urea annually. This output is expected to alleviate regional imbalances in agricultural fertilizer supply and drive coordinated development among supporting enterprises in the area.
Multi-Billion Yuan Chemical Materials Project Breaks Ground
Meanwhile, on November 21, China Shaanxi Yanchang Petroleum Yan'an Energy Chemical Co., Ltd., a wholly-owned subsidiary of Yanchang Petroleum Group, held a groundbreaking ceremony for its new carbonyl new materials project.
With a total investment of RMB 5.321 billion, the project will focus on the carbonylation of ethylene, propylene, and butylene to produce high-value-added products such as alcohols, aldehydes, and esters. The initiative is a key part of the parent company's strategy to extend its chemical industry chain. It will be implemented in three phases under the principle of 'integrated planning and phased implementation'.
Upon full completion, the project is forecast to increase Yan'an Energy Chemical's annual output value by approximately RMB 4.196 billion and raise its annual post-tax profits by about RMB 707 million. It is also expected to create 402 new jobs.
Yan'an Energy Chemical is responsible for the Yan'an Coal-Oil-Gas Resource Comprehensive Utilization Project, which commenced commercial operation in July 2020. That integrated project includes eight main production units: 1.8 million tons/year methanol, 600,000 tons/year methanol deep processing, 400,000 tons/year light oil processing and utilization, 420,000 tons/year polyethylene, 300,000 tons/year polypropylene, 200,000 tons/year butanol, 80,000 tons/year 2-PH (dipropylheptanol), and 25,000 tons/year EPDM rubber. Several of these units are noted as being the first of their kind in China or the world.