Gulei Refining Project Officially Started

On December 26, 2017, Gulei refining integration project (in Zhangzhou city, Fujian province) officially started. The project has great significance to promote cross-strait integration of petrochemical industry, to promote cross-strait depth fusion of petrochemical industry, hand in hand to cope with the international market competition, to promote local economic development, and to promote cross-strait peaceful development.

Gulei refinery project is the leading project in Zhangzhou Gulei chemical industry park. It was approved by Fujian province development and reform commission in Jan 2016, invested by Fujian Refining & Chemical Co., LTD. (50%) and Xuteng Investment Co., LTD. (50%). On November 7, 2016, the two sides held the unveiling ceremony at the annual meeting of entrepreneurs' summit in Xiamen, China, and formally established Fujian Gulei Petrochemical Co., LTD. The first phase of the project mainly includes 800000 tons/year of ethylene, 9 sets of chemical equipment for downstream processing, and a complete set of utilities, wharf and storage facilities, etc. The total investment is estimated about 27.88 billion RMB. It plans to began production on June 30, 2020.