Landbridge Port Olefin Utilization Project to Be Built

According to sources, Shandong Marine Energy Co., Ltd., Xuzhou Haitian Petrochemical Co., Ltd. and Landbridge Group conducted Landbridge Port Low-Temperature Olefin Storage Tank and Ethane to Ethylene Olefin Utilization Project Comprehensive Strategic Cooperation signing ceremony on July 19, 2018.

Sources say that the investment of the project (phase I) is 200 million RMB. Moreover, phase I includes 2*5,000 cbm refrigerated propane storage tanks, and these tanks will be completed and put into use in 2020. Phase II will have a total investment of 400 million RMB to build 2*80,000 cbm refrigerated storage tanks, 3*20,000 cbm butane & butylene storage tanks, 8*3,000 cbm pressurized spherical tank and ancillary facilities. After the project is completed, it will become the largest commercial public low-temperature liquid olefin petrochemical feedstock storage and distribution base in northern China, providing storage services for Xuzhou Haitian Petrochemical and other surrounding refineries with PDH units, with an annual turnover over 2,500kt. Besides, relied on the advantages of storage tanks, the three parties will cooperate in the construction of large-scale PDH production projects in Shandong.