On March 28, the Xuyou New Area of Lianyungang City, Jiangsu Province, announced a public notice regarding the environmental impact assessment approval for the second phase of the 100,000 tons/year high-end polyolefin monomer unit and supporting facilities project of Jiangsu Hongjing New Materials Co., Ltd.

The second phase of the project plans to build a 50,000-ton-per-year ethylene oligomerization unit and supporting public utilities on the reserved land at Hongjing Company. After completion, it will be capable of producing 33,500 tons per year of 1-octene, 15,600 tons per year of 1-hexene, and 2,900 tons per year of mixed C6.

The Hongjing Company's 100,000-ton/year high-end olefin monomer facility and supporting projects have a total investment of 2,484,720,000 yuan; the total investment in phase one is 2,015,984,200 yuan, and the total investment in phase two is 468,735,800 yuan. The environmental protection investment in phase two is 49,595,000 yuan, accounting for 10.58% of the total investment in phase two.

The project of 100,000 tons/year high-end polyolefin monomer plant and supporting facilities (Phase I) has received approval from the Environmental Protection Bureau of the National East-West Regional Cooperation Demonstration Zone (Lianyungang Xuwei New Area) on December 31, 2024 (Approval No. [2024] 56 of the Demonstration Zone Environmental Review), mainly producing 100,000 tons of POE annually.

This project involves the construction of a 100,000-ton/year high-end polyolefin monomer unit and supporting facilities (Phase II), utilizing the tricyclic tube ethylene oligomerization process to produce 1-octene and 1-hexene. The output of 1-octene will fully meet the demand of the 100,000-ton POE main unit, achieving partial domestic substitution.

Jiangsu Hongjing New Materials Co., Ltd. was established in September 2021 and is a wholly-owned subsidiary of Jiangsu Silbon Petrochemical Co., Ltd. (hereinafter referred to as "Silbon Petrochemical"). Silbon Petrochemical is located in the Petrochemical Industry Park of Xuxu New District, Lianyungang City, Jiangsu Province (Lianyungang Petrochemical Industry Base) and is a wholly-owned subsidiary of Shenghong Holding Group Co., Ltd.