SYPC 130 000 T/A Acrylates Project Completes

On October 22nd, 2006, the 130 000 t/a acrylates project
completed in Shenyang Paraffin Chemical Industrial Company
Ltd.(SYPC), a subsidiary of Shenyang Chemical Industrial Group
Corp.(SZ: 000698), in Shenyang Economic and Technological
Development Area,  Liaoning province. The project makes use of
propylene raw material manufactured in SYPC and imports key
acrylic acid and acrylate technology from Mitsubishi Chemical
Corporation of Japan. With a total investment of RMB1.29 billion,
an 80 000 t/a acrylic acid unit and two acrylate units with a
total capacity of 130 000 t/a has been built, including 10 000
t/a methyl acrylate, 10 000 t/a ethyl acrylate, 80 000 t/a butyl
acrylate and 20 000 t/a 2-ethylhexyl acrylate and etc.
    After the completion, the project will help the company
increase its annual sales revenue and profit respectively by
RMB2.3 billion and RMB300 million. The 130 000 t/a acrylates
project, funded by China Bluestar (Group) Corporation that is
the shareholder of SYPC, was approved by National Development
and Reform Commission on April 29th, 2004 and started
construction on August 16th the same year. (CCR 2004, No.25)
    Acrylic acid and acrylate is an important organic chemical
raw material, extensively used in chemical, textile, coatings
and paper-making sectors. In 2005, the domestic demand of
acrylate is 630 000 tons, while the capacity is 460 000 t/a far
falling short of the demand. It is estimated that this situation
will continue in consecutive years.