The project for 300,000-ton polypropylene facility, the largest one of its kind in the world, was kicked off at PetroChina Daqing Refining and Chemicals Company on October 7, 2003. Senior Vice President of PetroChina Su Shulin attended the foundation-laying ceremony for commencement of the project. With an investment of 1.416 billion yuan, the polypropylene unit is expected to be completed for construction and installation by the end of 2004 and put into production in 2005. The project will adopt the double-loop cycle-tube polypropylene production technical process from Italy-based Basell Company . The facility, when completed, will produce three categories of products - homopolymer, atactic polymer and impact copolymer. The annual sales revenue is expected to reach 2 billion yuan and the average annual after-tax profit amounts to 300 million yuan. The project will further promote the refining and chemical integration and the industrial structural adjustment and optimization of the oil refining enterprise, playing an important role in development of PetroChina and Daqing Oil Field.
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