34 Central Enterprises Help Hubei, Sinopec Plans To Invest 20 Billion!

Jun 08, 2020

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On the afternoon of June 3, the State-owned Assets Supervision and Administration Commission of the State Council and the Hubei Provincial Party Committee and Provincial Government jointly held a video conference of the central enterprises to help the development of Hubei Province after the epidemic. In this activity, 34 state-owned enterprises including China Petroleum and Chemical Corporation, China Three Gorges Corporation, and National Energy Investment Group Co., Ltd. signed 72 projects with Hubei, with a total investment of 327.725 billion yuan.


Among the projects signed this time, there are 48 projects with an investment of more than 1 billion yuan, accounting for 67.61%. Among them, there are 9 projects with more than 10 billion yuan, 11 projects with 5 billion to 10 billion yuan, and 28 projects with 1 billion to 5 billion yuan. The project mainly focuses on new energy, ecological and environmental protection, intelligent manufacturing, information technology, medicine and health, industry-city integration, infrastructure construction and other fields.


Zhang Yuzhuo, chairman and secretary of the Party Leadership Group of Sinopec, said that he will invest more than 20 billion yuan in Hubei to vigorously promote the advancement of the local industrial base and the modernization of the industrial chain.


Sinopec has formulated four investment plans:

First, cooperate to promote the exploration and development of shale gas in western Hubei, strive to build a capacity of 1 billion cubic meters in the "14th Five-Year Plan", and accelerate the construction of Jianghan salt cave natural gas storage;

The second is to implement the requirements for the protection of the Yangtze River, speed up the implementation of major projects such as Sino-Korea petrochemical refining structure adjustment, and help the Hubei petrochemical industry upgrade and upgrade;

The third is to improve Hubei's refined oil sales network, and actively plan to develop new energy projects such as geothermal, hydrogen, and river water sources to help build green energy bases;

The fourth is to fulfill social responsibilities, increase the recruitment of colleges and graduates from Hubei province, and create conditions to increase the number of migrant workers and help Hubei stabilize employment.


Other energy and petrochemical related projects:

CNOOC Ethylene Marketing Cooperation Project

Dangyang Jinniu Energy Environmental Protection Technology Co., Ltd. treats 100,000 tons of waste mineral oil annually

Xiangyang Industrial Park Comprehensive Energy Project

Jingzhou and Suizhou Cogeneration Project

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