Sinopec Commences Operations at 3 Million Tons per Year PTA Plant

Recently, Sinopec Yizheng Chemical Fiber Co., Ltd., situated in Jiangsu Province, initiated operations for what stands as the world's largest PTA project in terms of single-unit production capacity.

PTA, an essential intermediary and primary raw material for PET resin, holds significant importance in various daily essentials such as plastic bottles, fibers, films, and packaging materials. The PTA plant represents a pinnacle of complexity within the petrochemical industry. Sinopec has embraced cutting-edge short-process, smart-manufacturing, and green production technologies to spearhead advancements in the industry.

With an impressive production capacity of 3 million tonnes per year, the project aims to cater to the evolving needs of society across domains including apparel, food, shelter, transportation, and environmental well-being.

PTA, or Purified Terephthalic Acid, serves as a vital component in the production of polyester fibers and yarn, alongside its role in manufacturing plasticizers, liquid crystal polymers, and polybutylene terephthalate. With a chemical formula of C6H4(CO2H)2, PTA is derived from the oxidation of paraxylene and serves as a primary raw material for polyethylene terephthalate (PET) and polyester fibers. Polyester fibers find extensive use in various industries, including rugs, clothing, furniture, industrial applications, and consumer products. Its applications include fiber and filament yarn production, PET bottle manufacturing, PET film production, and various other uses.

Established in July 1998, China Petrochemical Corporation (referred to as "the Company") emerged from the former China Petrochemical Corporation through a strategic restructuring of the petroleum and petrochemical industry mandated by the central government. Subsequently, in August 2018, it was formally incorporated as a limited liability corporation. The corporation ranks as the leading supplier of oil and petrochemical products and holds the second position as an oil and gas producer within China. Globally, it stands as the largest refining company and the third-largest chemical company.

Situated in Beijing, the Company exercises the investor's rights over the related state assets owned by its subsidiaries, controlled entities, and shareholding companies. This includes activities such as asset returns, pivotal decision-making, and managerial appointments. Furthermore, it operates, manages, and supervises these state assets in adherence to pertinent laws, assuming the responsibility of preserving and enhancing the value of these assets.

The Company's core activities encompass a wide spectrum of industries and services. These include industrial investment and management, exploration, production, storage, and transportation of petroleum and natural gas, which encompasses pipeline operations, sales, and comprehensive utilization. Additionally, the Company is involved in coal production, sales, storage, and transportation, as well as oil refining.