Tianjin will spend 65 billion CNY to construct Bohai chemical industry park

In order to build Binhai New Area into a national petrochemical industry base, Tianjin plans to invest 65 billion CNY for the construction of Bohai chemical industry park, which is a modern chemical production base integrating maritime chemical, petroleum chemical and coal chemical industries.

The relocation and reconstruction project of Tianjin Bohua Yongli Chemical Co Ltd was finally completed at the end of 2010, after five years’ work. New products such as polyformaldehyde, n-butyl alcohol and isobutanol are produced in the new location. A styrene production equipment with annual output of 500,000 tons in Dagu Chemical Co Ltd under Tianjin Bohai Chemical Industry Group Co Ltd has successfully matched with the million-ton ethylene equipment. As the first phase of the 400,000-ton ABS project and the SBS project, a jointly invested project with LG Chem was put into operation, which marked the first phase of Bohai chemical industry park was finished successfully.

The park’s first phase, with a total investment of 23 billion CNY, has added 19 new products for Tianjin Bohai Chemical Industry Group, and also increased economic aggregate by 30 billion CNY annually.

Bohai chemical industry park covers an area of 5 square kilometers in Tianjin Harbor Economic Area. A total of 41 projects will be built in the park in eight years. Its annual sales revenue is estimated to be 106.3 billion CNY after completed, with annual profit totaling 15.7 billion CNY. Moreover, it is expected to be a modern chemical production base national-leading in terms of technologies, functional facilities, upstream and downstream products integration, resources allocation, management and environmental protection, as well as a bright spot in Binhai New Area’s economic development.

As the largest maritime chemical production enterprise in China, Tianjin Bohai Chemical Industry Group’s main products are leading in its field. It has a wide range of products, namely, over 2,000 kinds in 11 categories. What’s more, it keeps long-term cooperation with many global giants, such as LG and Akzo Nobel. It has already achieved cooperation with the Beijing branch of Chinese Academy of Sciences, and furthermore it has reached strategic cooperation agreement with Dalian Institute of Chemical Physics, Chinese Academy of Sciences.