On July 2018, LONG Dawei, Secretary of the Party Committee & Chairman of Tsinghua Holdings and Chairman of Chengzhi Shareholding, led a team of CHENGZHI executives to Nanjing Chengzhi Yongqing Energy Science and Technology Co., Ltd. ("Chengzhi Yongqing" for short) to investigate the status of the construction of the Methanol-to-Olefins (MTO) project with an annual capacity of 600,000 tons.

Chairman LONG Leads an Executive Team to Investigate Chengzhi Yongqing

Chairman LONG fully approved the construction work of the project and explicitly indicated the importance of the project to Chengzhi Shareholding as part of its future strategic deployment. Therefore, the project should be advanced in strict accordance with quality and safety requirements as well as the schedule. Meanwhile, Chairman LONG also put forward specific requirements for safety management of the project as well as safety training of new employees, etc.

Background:

Nanjing Chengzhi Yongqing Energy Science and Technology Co., Ltd. ("Chengzhi Yongqing"), a wholly owned subsidiary of Chengzhi Shareholding, was founded in Dec. 2011 and located at Nanjing Jiangbei New Area(District), covering a total area of about 400,000 m2 and currently with a registered capital of 2.821 billion RMB. Chengzhi Yongqing mainly consists of the facility for the Methanol-to-Olefins (MTO) project with an annual capacity of 600,000 tons and the facility for its optimized project of butadiene production with an annual capacity of 100,000 tons. Its main products are ethylene, propylene and butadiene, and its byproducts include ethane, propane, LPG and crude benzene, etc. With a total investment of about 4.153 billion RMB, this project is still under construction and is expected to go into production in 2019, which will further expand the reach and influence of Chengzhi Shareholding as a leading domestic comprehensive operator of basic chemical materials.

Source: ChengZhi New Energy Unit