Business

China New ACN Project Progress Update

Around 3450 kta of ACN capacities are expected to come up in China over the next few years. As seen in the table, the new projects are mainly located in coastal provinces (Liaoning, Tianjin, Fujian, Guangdong and Jiangsu), and are at various stages of construction. For the integrated downstream units, the projects are mostly equipped with ABS units, but most of the downstream units cannot digest the ACN units. Calculated by 23% use, 600kta of ABS unit only needs 138kt of ACN. So nearly a half of ACN will be consumed in the local market. Nevertheless, the projects are still on schedule, and are paying attention to the implementation progress. For the start-up time, PetroChina Jilin, Liaoning Bora and CNOOC Hainan Fine Chemicals Project may be started up this year, and PetroChina Jilin’s unit is expected to start up in the third quarter, while the other two units may start up in the fourth quarter.