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Chem park acquires 2 zones to lift output
By Pan Xiaoyi |
December 26, 2009, Saturday
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Print Edition
Print Edition
SHANGHAI Chemical Industry Park, home to major global firms such as BP Plc and Bayer AG, yesterday announced it acquired two nearby chemical zones to boost its production as well as help the park to reduce emissions and increase energy efficiency.
The acquisition marks the latest move by the Shanghai government to adjust the industry structure and to create industry clusters which include Greater Hongqiao, Greater Pudong and Lingang New City.
"This is an important measure by the city government to precede the industry consolidation and upgrading in a bid to promote regional economic growth," said Ai Baojun, vice mayor of Shanghai.
"The synergy between SCIP and the chemical zones will help build the area into a world competitive petrochemical base," Ai added.
The two chemical zones are located in neighboring Jinshan District and Fengxian District.
The acquisition will also allow companies in the Jinshan and Fengxian chemical zones to share SCIP's sewage disposal plant, waste incinerators, natural gas pipeline network and combined heat and power to reduce energy consumption and emissions.
The projects in the park consume 0.925 ton of standard coal per 10,000 yuan of gross domestic product, compared with China's national average of 1.07 tons of standard coal in 2008.
For the first 11 months, more than 170 companies in SCIP, lying north of Hangzhou Bay, had combined sales of 43.5 billion yuan (US$6.4 billion). The value figure also includes the chemical zones in Jinshan and Fengxian. The new park targets a total production value of 60 billion yuan next year.
The SCIP said the merger will increase its total area from 29.4 square kilometers to 36.1 square kilometers. After further expansion, the SCIP will cover 41.6 square kilometers. It aims to cover 60 square kilometers by 2020 with annual output of 35 million tons of refined oil and 3.5 million tons of ethylene, the developer of SCIP said.
The acquisition marks the latest move by the Shanghai government to adjust the industry structure and to create industry clusters which include Greater Hongqiao, Greater Pudong and Lingang New City.
"This is an important measure by the city government to precede the industry consolidation and upgrading in a bid to promote regional economic growth," said Ai Baojun, vice mayor of Shanghai.
"The synergy between SCIP and the chemical zones will help build the area into a world competitive petrochemical base," Ai added.
The two chemical zones are located in neighboring Jinshan District and Fengxian District.
The acquisition will also allow companies in the Jinshan and Fengxian chemical zones to share SCIP's sewage disposal plant, waste incinerators, natural gas pipeline network and combined heat and power to reduce energy consumption and emissions.
The projects in the park consume 0.925 ton of standard coal per 10,000 yuan of gross domestic product, compared with China's national average of 1.07 tons of standard coal in 2008.
For the first 11 months, more than 170 companies in SCIP, lying north of Hangzhou Bay, had combined sales of 43.5 billion yuan (US$6.4 billion). The value figure also includes the chemical zones in Jinshan and Fengxian. The new park targets a total production value of 60 billion yuan next year.
The SCIP said the merger will increase its total area from 29.4 square kilometers to 36.1 square kilometers. After further expansion, the SCIP will cover 41.6 square kilometers. It aims to cover 60 square kilometers by 2020 with annual output of 35 million tons of refined oil and 3.5 million tons of ethylene, the developer of SCIP said.
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