November 18

The largest industrial project investment in Fujian Province

To date—

The second phase of the Fujian Gulei refining and petrochemical integration project—

Kicked off construction today!

The project, a collaboration between China Petrochemical Corp (Sinopec), Fujian Petrochemical Company Limited (FPCL)

and Saudi Arabian Oil Company (Saudi Aramco),

Involves a total investment of 71.1 billion yuan.

Main construction includes: A 16 million tons-per-year oil refining unit

A 1.5 million tons-per-year ethylene unit, a two million tons paraxylene and downstream derivatives capacity, etc

More than 30 refining and chemical processing units

As well as supporting utilities, systems, and terminal berths.

Upon completion, the second phase of the Gulei project is expected to:

Enhance the industrial integration of the Gulei Base, address the upstream “crude oil feedstock” bottleneck in the Gulei Petrochemical Base, and effectively secure raw material supplies for petrochemical projects within the Gulei Industrial Park.

Leverage its unique geographical advantages to provide high-quality raw materials for Taiwanese investors in the park, supporting the development of downstream high-end product value chains and fostering deeper cross-strait integration of the petrochemical industry.

Boost the level of openness in the Gulei Petrochemical Industrial Park, establish the China-Saudi (Fujian) Industrial Cooperation Zone, and develop a world-class, cutting-edge, ultra-large, modern coastal petrochemical industrial base with a competitive edge.

Contribute to the accelerated development of Sinopec as a strategic powerhouse with robust industrial, social, and cultural influence.

Support the high-quality development of Fujian’s trillion-yuan petrochemical pillar industry, driving the construction of a new Fujian that is “dynamic, upgraded, prosperous and beautiful”.

Translated by Fujian Investment Promotion Center