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[Industry Focus]:The planned total investment is 0.44 billion yuan, and 90000 tons of acrylic acid for satellite chemistry are signed.

On the afternoon of March 22, the satellite chemistry project was officially signed and settled in Nanhu District, which means that satellite chemistry and Nanhu District have deepened cooperation and developed hand in hand, and entered a new stage. Dai Feng, vice mayor of Jiaxing City, Yang Weidong, chairman and president of Satellite Chemical Co., Ltd., and leaders of Nanhu District Shao Panfeng, Chen Qunwei, Wu Jian, Zhang Jian, Qian Xiaodong and Xu Gang attended the signing ceremony.

The signed projects are the satellite global marketing center project, 90000 tons of acrylic acid and 100000 tons of refined acid project. Among them, the satellite global marketing center project is expected to increase trade volume by 20 billion yuan and increase annual tax revenue by 30 million yuan; the total investment of 90000 tons of acrylic acid and 100000 tons of refined acid project is planned to be 0.44 billion yuan. After the project reaches production, it is expected to increase the annual output value by 1.36 billion yuan and increase the annual tax revenue by 0.195 billion yuan.
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Dai Feng, vice mayor of Jiaxing City, said that the signing of the project not only shows the trust of satellite chemistry in Jiaxing, but also a major measure for satellite chemistry to cultivate Jiaxing, and also marks the further deepening of the strategic layout of the enterprise. The Jiaxing Municipal Government will unswervingly build the new chemical material industry into a landmark industry of a strong city with intelligent manufacturing and innovation, provide greater strength and higher quality support, and help satellite chemistry to become a global benchmark enterprise of new chemical materials, continuously optimize the business environment, and provide all-round services for project construction and high-quality and sustainable development of enterprises. At the same time, we look forward to the joint efforts of satellite chemistry and the government and enterprises in Nanhu District to seize the opportunity and work together, so that the contracted projects can be landed early, started early, completed early and effective.

Recent Dynamic Carding of Satellite Chemistry


1, 900000 tons of PDH project planning before approval publicity
on January 8, 2024, pinghu municipal people's government issued a pre-approval announcement to publicize the projects with an annual output of 40000 tons of hydrogen/900000 tons of propylene/800000 tons of polyhydric alcohol/80000 tons of neopentyl glycol chemical new materials and hydrogen energy utilization integration projects-(bid 2) and (bid 6).
On January 3, 2023, the project, the "Satellite Energy Phase III Billion Project" started. The project has a total investment of about 10.2 billion yuan and a total land area of about 496 mu. It mainly builds PDH, polyhydric alcohol, neopentyl glycol, supporting air separation, synthetic gas unit, synthetic gas purification and other process units.
On the one hand, as a wholly-owned subsidiary of satellite chemistry, Zhejiang Satellite Energy Co., Ltd. has built two phases of a total of 900000 tons of PDH production capacity, all using UOP technology, if the three-phase integration project is put into operation, the company's PDH production capacity will reach 1.8 million tons/year. On the other hand, through the layout of multi-carbon alcohol, new glycol and other high value-added products, to achieve the company's propylene-butyl alcohol downstream industrial chain extension.

2, acrylic acid and ester expansion project put into production.

In April 2023, Satellite Chemical put 180000 tons/year of acrylic acid and 160000 tons/year of butyl acrylate into production, when the company's total production capacity of acrylic acid and butyl acrylate reached 840000 tons/year and 780000 tons/year respectively, further consolidating the company's leading position in acrylic acid and esters.

3, hand in hand to make new, layout EAA phase II

on November 30, 2023, Satellite Chemistry and SK Zhixin signed a supplementary agreement for the second phase of the China-Korea Corey EAA project in Shanghai, deciding to increase the capital by 0.868 billion RMB and start the second phase of the EAA project.
The Sino-Korea Kerui EAA project is a joint venture between South Korea SK Zhixin and Satellite Chemical. It will be implemented in two phases: the first phase will build a new material project of ethylene acrylic acid copolymer (EAA) in the packaging field with an annual output of 40000 tons, with a total investment of about 1.64 billion yuan and an area of about 108 mu. It will be started on June 17, 2023 and is planned to be put into production in 2025. Phase II 50000 tons/year EAA project planning green chemical cycle and other global emerging chemical industry chain projects.

4. Primary EIA of α-olefin Project

on December 29, 2023, an EIA was conducted by the alpha-olefin comprehensive utilization high-end new materials industrial park project (phase I) of Lianyungang Petrochemical, a subsidiary of satellite chemistry.
The total investment of the project is about 12.15 billion yuan and will be constructed in two stages, the first phase of construction includes 2 sets of 100000-ton/year α-olefin (LAO) units, 1 set of 900000-ton/year polyethylene unit (45 × 2)3#, 1 set of 450000-ton/year polyethylene unit 5#, 1 set of 12-ton/year 10,000-ton butadiene extraction unit/2#, 1 set of 260000-ton/year aromatics treatment unit and supporting facilities
2 million tons/year raw material processing device 3#(including WAO supporting device), etc.
It is reported that the current satellite chemical alpha-olefins and POE projects are progressing smoothly. The α-olefin industrial test project has been completed, and the development of the 100000-ton plant process package has been basically completed. It is planned to be completed by the end of 2025. The POE pilot test will be carried out smoothly, and the industrialization project will be constructed simultaneously with α-olefin.
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