Advanced Search

Related News

Home » Business » Manufacturing

Honeywell predicts China's refineries to boom as it breaks ground on new plant

By Richard Fu | October 29, 2013, Tuesday | Online Edition

HONEYWELL International Inc said China's refining industry is set to boom in the long term as the US company announced a new plant to support the sector.

The initial phase of the new facility, in the port city of Zhangjiagang, Jiangsu Province, will include catalyst and adsorbents production capacity for UOP, a Honeywell unit that 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, compared with a capacity of 540 million tons per year at present. That will require up to 10 new refineries, in addition to some expansion projects, he told reporters after a groundbreaking event today in Zhangjiagang.

While some have concerns about overcapacity, Honeywell believes China still needs more new, efficient refineries as it closes outdated facilities and as the transportation sector develops, said Scott Zhang, vice president and general manager of Asia for Honeywell Performance Materials and Technologies.

Also, Chinese oil companies such as Sinopec and China National Petroleum Corp have been upgrading their facilities so as to produce fuels with higher quality, a move that would boost demand for UOP technology, Gautam said.

UOP was one of the 10 businesses that US President Richard Nixon recommended to China in 1972 to drive bilateral exchange to accelerate China's modernization development.

Honeywell hasn't disclosed the cost of the new plant.

Manufacturing


 

Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.

沪公网安备 31010602000204号

Email this to your friend