On July 6, the groundbreaking ceremony of the first phase of the Sinopec Guizhou 500,000-ton/year PGA (polyglycolic acid) project was held in Zhijin County, Bijie City.
According to reports, in order to give full play to Guizhou’s resources, location advantages and Sinopec’s technology, market, management, and talent advantages, and deepen the strategic cooperation between Guizhou Province and Sinopec during the "14th Five-Year Plan" period, the two parties signed the "Comprehensive Framework Agreement on Strategic Cooperation for Promoting High-Quality Development.
According to the agreement, Sinopec plans to build a 500,000-ton/year polyglycolic acid (PGA) project in Chadian Township, Zhijin County, with an investment of approximately 23 billion yuan. Among them, the first phase of construction is 200,000 tons/year, and the total investment is about 11 billion yuan. After completion, the average annual sales income of products is expected to reach 3.15 billion yuan; the second phase is planned to build 300,000 tons/year, and the total investment is about 12 billion yuan. The construction of this project focuses on resource conservation and protection of the ecological environment. The process technology of all production equipment is to choose advanced, low-material and energy-consuming clean technologies to build Sinopec into an environmentally friendly and super large petrochemical enterprise.
Guizhou officials expressed the hope that both parties will work together to accelerate the early completion of the project, early production and early results, and make every effort to build it into a landmark and leading project for high-quality development in Guizhou during the "14th Five-Year Plan" period.
Zhang Yuzhuo, Chairman of Sinopec Group Corporation, said that the company will take this as a new starting point to actively integrate into Guizhou, promote the cooperation between the two parties to a wider field, higher level, and deeper levels, and help Guizhou "break new roads, open new games, and grab new ones." Opportunity, new achievements", to make greater contributions to writing a new chapter of colorful Guizhou's high-quality development in the new era.
