Plans afoot for petrochemical hub in Tianjin

Tianjin city in China has been selected for development into a world-class petrochemical industry base and national crude-oil reserve hub, according to China Daily. “With the equipment to produce 1.2 million tons of ethylene annually, Tianjin is already among the highest-rated petrochemical industry cities. The National Development and Reform Committee (NDRC) has agreed to its constructing an ethylene cracker with another 1.2 million ton capacity annually. And the construction of the Sino-Russian 13 million ton oil refinery project, with a 36.6 billion yuan (US$5.55 billion) investment, is in full swing,” He Shushan, head of the administrative committee of Tianjin Economical-Technological Development Area, told China Daily. The Sino-Russian Oriental Petroleum & Chemical (Tianjin) Co. Ltd. oil refinery will process Russian crude oil. The project is a major step toward transforming the Nangang Industrial Zone into a world-class petrochemical base and integrated-function area. When it opens, it will have the capacity to generate 62.2 billion yuan (US$9.44 billion) in annual sales revenues.(January 27, 2011)