Honeywell’s plant to back refining boom
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Honeywell International Inc’s planned new plant will be able to support the boom in China’s refining industry in the long term, the US company said yesterday.
Located in the port city of Zhangjiagang, Jiangsu Province, the initial phase of the new facility will include catalysts and adsorbents production capacity for UOP, a Honeywell unit. It is a leading global supplier of catalysts, adsorbents, equipment and process technology for the oil refining, gas processing, petrochemicals and renewable energy industries.
Rajeev Gautam, president and CEO of UOP, said China’s refining demand could reach 700 million tons per year by 2015, up from 540 million tons per year currently. That will require up to 10 new refineries, in addition to some expansion projects, he told reporters after a groundbreaking event yesterday in Zhangjiagang.
Scott Zhang, vice president and general manager of Asia for Honeywell Performance Materials and Technologies, said Honeywell believes that China still needs more new and efficient refineries as it closes outdated facilities and as the transport sector develops.
Honeywell did not disclose investment figure of the new plant.
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