Investing 67.3 billion yuan to build a world-class methanol-to-olefin project is one of the important directions for olefin feedstock diversification. Baofeng develops photovoltaic power generation in parallel to meet the trend of carbon neutrality.

　　2021 China Olefins and Feedstock Diversification Forum will be held in Huizhou from March 24-25 to discuss the competitiveness of coal-to-olefins and the layout of downstream products under the situation of rising crude oil prices.

　　The Plastic Recycling and Energy Chemical Carbon Neutrality Forum will be held in Huizhou, Guangdong on March 26. Methanol-to-olefins combined with photovoltaic power generation to achieve carbon neutrality and the transformation and upgrading of energy and chemical enterprises will be one of the topics to be discussed.

　　On March 7, 2021, Baofeng Energy Group Co., Ltd. announced that its subsidiary, Inner Mongolia Baofeng Coal-based New Materials Co., Ltd. will be the main investor in Tuke, Sulige Economic Development Zone, Wushen Banner, Ordos City, Inner Mongolia Autonomous Region. The industrial project area plans to build a 4×1 million tons/year coal-to-olefin demonstration project.

　　The estimated investment of the project is about 67.3 billion yuan, using the third generation technology of DMTO of Dalian Institute of Chemical Technology. The construction content of the project is 4×1 million tons/year coal-to-olefins and supporting 5×2.2 million tons/year methanol plants.

　　 According to the announcement, the overall plan of the project has been approved by the Inner Mongolia Autonomous Region Development and Reform Commission and the Department of Industry and Information Technology, and strives to complete the construction before the end of 2023. The 2.6 million tons/year project of the first phase of the project has also been approved.

　　 It is reported that the project has been listed as a key demonstration project among the four modern coal chemical industry demonstration zones planned and laid out in the "Modern Coal Chemical Industry Innovative Development Layout Plan" issued by the National Development and Reform Commission and the Ministry of Industry and Information Technology during the "13th Five-Year Plan" period. The relevant pre-approval documents need to be approved by the national ecological environment department and are currently being reported.

　　 The total project investment is 67.3 billion yuan, of which the construction investment (including value-added tax) is 62.5 billion yuan. The project funds come from 30% of the company’s own funds and 70% of bank loans or other financing to ensure the smooth implementation of the project. During the reporting period, Bank of Communications Co., Ltd. and the Inner Mongolia Branch of Industrial and Commercial Bank of China signed a "Comprehensive Strategic Cooperation Agreement" with the company, agreeing to provide a credit line of 20 billion yuan and 30 billion yuan for the company’s project construction, with a total credit line of 50 billion yuan. yuan. The project strives to be completed in 2023.

　　This project is one of the key demonstration projects in the four modern coal chemical industry demonstration zones planned and laid out in the "Modern Coal Chemical Industry Innovative Development Layout Plan" issued by the National Development and Reform Commission and the Ministry of Industry and Information Technology during the "13th Five-Year Plan" period. The project is applied in Dalian The third-generation DMTO technology of the Institute of Chemical Technology belongs to the innovative clean and efficient utilization technology of coal, and belongs to the encouraged category of the "Industrial Structure Adjustment Guidance Catalog (2019 Edition)".

　　Recently, Inner Mongolia Baofeng Coal-based New Materials Co., Ltd.'s 4×1 million tons/year coal-to-olefins demonstration project dynamic compaction project officially started in the midst of all firecrackers.

　　 Baofeng achieved revenue of 15.928 billion yuan in 2020, a year-on-year increase of 17.39%; net profit of 4.623 billion yuan, a year-on-year increase of 21.59%;. The successful implementation of the company's IPO fundraising project in 2020 will drive a substantial increase in the output of polyethylene and polypropylene products, and achieve full self-sufficiency in the production of methanol. The company currently has a production capacity of 1.2 million tons/year of polyolefin, 4 million tons/year of methanol, and 780,000 tons/year of fine chemical products. At present, the third-phase olefin project of Ningdong Base has officially started construction and is expected to be completed and put into production in 2022. After all production is reached, an additional annual production capacity of 1 million tons of olefins will be added to further expand the company's production scale and reduce production costs.

　　 Last week, industry sources stated that in principle no new coal chemical projects will be approved during the 14th Five-Year Plan period in Inner Mongolia. According to ASIACHEM's analysis, Baofeng's 4 million tons of coal-to-olefins project will continue to advance, and photovoltaic power generation will be developed in parallel to meet the trend of carbon neutrality.

　　 Related links: Inner Mongolia stopped the approval of new coal chemical projects, what impact will Baofeng 4 million tons of coal-to-olefins have?

　　 During the "14th Five-Year Plan" period in Inner Mongolia, no new modern coal chemical projects will be approved. Some coal power units will be withdrawn before the end of 2023 to promote the construction of wind power and solar power generation bases. Baofeng's 4 million tons of coal-to-olefins project continues to advance, and photovoltaic power generation is developed in parallel to meet the requirements of the trend of carbon neutrality. In order to comply with the development trend of the energy market, actively expand the clean energy market, and promote the integrated development of the modern coal chemical industry and new energy, Baofeng Energy has also launched a demonstration project for hydrogen production and storage and comprehensive application of solar energy electrolysis.

　　The world-class methanol-to-olefins project is one of the important directions for the diversification of olefin raw materials. The 2021 China Olefins and Feedstock Diversification Forum will be held in Huizhou from March 24-25 to discuss the competitiveness of coal-to-olefins and the layout of downstream products in the context of rising crude oil prices.

　　 Plastic Recycling and Energy Chemical Carbon Neutrality Forum 2021 will be held in Huizhou, Guangdong on March 26. Methanol-to-olefins combined with photovoltaic power generation to achieve carbon neutrality, as well as the transformation and upgrading of energy and chemical enterprises, will be one of the topics to be discussed.

　　The China Olefins and Feedstock Diversification Forum 2021 hosted by ASIACHEM will be held in Huizhou, Guangdong from March 24-25. We sincerely invite industry experts to make reports on the following topics,

 

　　1. "14th Five-Year" petrochemical industry planning foresight and policy interpretation

　　2. Research and judgment on the diversification and lightening trend of olefin raw materials

　　3. Cost analysis and economic comparison of different technical routes

　　4. Opportunities and challenges brought by trade frictions to the petrochemical industry

　　5. Olefins and derivatives production process and catalyst improvement

　　6. ​​Introduction and engineering case of raw material lightweight transformation technology

　　7. Global light hydrocarbon resource status analysis (distribution, recovery reserves, terminals, ships, transportation, supply and demand, prices)

　　8. Development and commercialization prospects of olefin production technology (STO, self-developed PDH, crude oil direct cracking, etc.)

　　9. Focus on new projects: PDH, ethane/propane cracking, comprehensive utilization of light hydrocarbons, CTO/MTO, refining and chemical integration

　　10. Technology development and industrialization of high-end olefin downstream products (octene, POE, mPE, etc.)

　　11. The development trend of biodegradable materials/plastic recycling industry and its impact on the petrochemical industry

　　12. C3/C4 route system BDO process technology progress and product market prospects

　　13. Industrial visits and inspections

　　The "Plastic Recycling and Energy Chemical Carbon Neutrality Forum 2021" sponsored by Asia Chemical Consulting will be held in Huizhou from March 25th to 26th. It will focus on relevant policy, technology, and market issues.

 

　　Subject

　　Plastic pollution control and carbon neutrality "14th Five-Year" policy trend

　　Plastic production and the challenge of carbon peak and carbon neutral goals

　　Plastic recycling in Japan, the European Union, and the U.S.

　　Domestic and international advanced plastic recycling technology and industrial application

　　Analysis of the development prospects of recycled plastics and degradable plastics

　　PET recycling technology and downstream enterprise application situation

　　PP/PE/PC recycling technology and application prospects

　　Waste recycling, recycling cost and economic analysis

　　Evaluation criteria and application scenarios of recycled materials

　　Circular economy park development ideas and commercial demonstration

　　The status quo and trend of recyclable design ideas

　　Industry tour (to be confirmed)