On the evening of December 4, Sinopec announced the resolution of the 19th meeting of the seventh board of directors of the company. The meeting reviewed and approved the investment and construction of Tianjin Nangang 1.2 million tons/year ethylene and downstream high-end new materials industrial cluster project ("Project") And authorize the company’s chairman (or his authorized person) to take the required actions on the project, including but not limited to making and signing all necessary legal documents. The project investment is about 28.8 billion yuan, and the implementation is subject to approval by the relevant administrative departments.
It is reported that "Nangang Industrial Zone has been included in the "Beijing-Tianjin-Hebei Coordinated Development Planning Outline", and Tianjin has positioned it as a'world-class new chemical material base'. Building a "one base, two wings, three new" pattern in Nangang to clean, efficient and sustainable Development is the direction, to cultivate strategic emerging industries, to lay a foundation for a good structure of the refining sector, a complete industrial chain of the chemical sector, and outstanding aggregate advantages to build a world-class integrated industrial base for the refining and chemical industry around the Bohai Sea.
As early as September 27, the Tianjin Municipal Government and China Petrochemical Corporation signed a strategic cooperation framework agreement. According to the agreement, during the "14th Five-Year Plan" period, Sinopec will plan to invest 70 billion yuan in key projects, including joint promotion Tianjin Petrochemical Nangang 1.2 million tons/year ethylene and downstream high-end new materials industrial cluster project.
