Huajin Tongda's Ethylene Project Starts up    

Liaoning Huajin Tongda Chemicals Co., Ltd. (Huajin Tongda, SZ: 000059) announced on February 10th that its ethylene project including 450 000 t/a ethylene unit, 4 million refining unit and other matching facilities started up on February 5th. The total investment was RMB10.7 billion.
   The integrated project is located in Panjin of Liaoning province. Construction was started on July 15th, 2007, by Liaoning Huajin Chemical Industry Group Co., Ltd., Huajin Tongda's majority shareholder. In May 2008 Huajin Tongda acquired this project. Before this acquisition, Huajin Tongda's business has only relations to urea and ABS resin.
   Liaoning Huajin Chemical Industry Group Co., Ltd. is a wholly owned subsidiary of China North Industries Group Corporation (CNIGC). CNIGC is one of the four Chinese oil companies that own the certification of doing oil business outside China. The other three are CNPC, Sinopec Group and CNOOC.
   The construction was completed on September 28th, 2009. Huajin Tongda conducted wet commissioning on November 20th, and produced qualified products on February 5th, 2010.
   The crude oil needed by the ethylene project is supplied by Zhenhua Oil Co., Ltd. through a 140 kilometer oil pipeline between Yingkou port and Panjin. Zhenhua Oil Co., Ltd., another subsidiary of CNIGC, engages in the petroleum business. Since inauguration in 2003, Zhenhua Oil has got four oil and gas projects at abroad.
   CNIGC, China's machinery giant, acquired freely Liaoning Huajin Chemical Industry Group Co., Ltd. in 2006. As of 2009, CNIGC has owned nine chemical subsidiaries. Except Liaoning Huajin Chemical Industry Group Co., Ltd., the others are all engaged in fine chemicals business. Adding the ethylene project, CNIGC has a complete production chain from oil to fine chemicals.