Total investment of 75.7 billion yuan! Fuhai Group will build a 10-million-ton refining, PX, and ethylene integrated industrial cluster.

On the morning of July 14, the Information Office of the Shandong Provincial People's Government held a series of press conferences for private entrepreneurs titled "Forging Ahead in the '15th Five-Year Plan' with Private Enterprises Showing Responsibility." Representatives of private entrepreneurs from the province gathered at the venue to share achievements in industrial development, plan medium-to-long-term development blueprints, and demonstrate the practical strength of Shandong's private economy in empowering high-quality regional development.

Liao Guangming, President of Fuhai Group New Energy Holding Co., Ltd., attended the meeting and highlighted the company's 28 years of development accumulation and core competitive advantages. He also disclosed the progress of the group's demonstration project for the low-carbon restructuring and comprehensive utilization of aromatic raw materials, with a total investment of 75.7 billion yuan.

At the meeting, Liao Guangming stated that based on the national "Dual Carbon" strategic goals and the overall layout of the petrochemical industry in Shandong Province, Fuhai Group is currently focusing on advancing the construction of the demonstration project for the low-carbon restructuring and comprehensive utilization of aromatic raw materials. With a total investment of 75.7 billion yuan, this project is a key vehicle for the enterprise to promote the low-carbon transformation of the refining and chemical industry and extend the high-end chemical chain. It will strongly boost the accelerated formation of the Shandong petrochemical industrial cluster.

According to reports, upon completion and operation, the project is expected to achieve an annual sales revenue of 76.6 billion yuan and profits and taxes of 19.1 billion yuan, directly creating over 3,200 new jobs. Relying on the implementation of this project, Fuhai Group will build a large-scale industrial cluster with a capacity of 15 million tons of oil refining, 3 million tons of PX, and 2 million tons of ethylene. It will continue to implement the transformation direction of "reducing oil, increasing chemicals, and increasing materials" in the petrochemical industry, further perfecting the integrated refining-aromatics-olefins industrial chain, and enhancing the refined and low-carbon development level of Shandong's refining and chemical industry.

Liao Guangming reviewed that after twenty-eight years of deep cultivation in the real economy, Fuhai Group has continuously focused on the main business of energy and chemicals, constantly consolidating its industrial foundation and perfecting its industrial chain layout. Relying on a clear industrial strategy, a mature talent system, and a continuously optimized business environment, the enterprise has developed steadily and continuously extended its layout into high-end new materials and green, low-carbon fields. Facing the "15th Five-Year Plan" period, the group will take the 75.7 billion yuan low-carbon petrochemical project as an important grip, continuously optimize product structure, promote the application of energy-saving and carbon-reduction technologies, and rely on the locational advantages of the Bohai Rim to coordinate the layout of traditional energy, new energy, and chemical new materials businesses.

As a key private refining and chemical enterprise in Shandong, the implementation of Fuhai Group's major project is not only a vivid practice of private enterprises actively connecting with the province's industrial planning and practicing green transformation, but will also further strengthen the shortcomings of Shandong's high-end petrochemical industrial chain, enhance the agglomeration effect of the regional petrochemical industry, and inject strong momentum into the province's promotion of the conversion of old and new kinetic energy, the growth of the private economy, and the realization of high-quality development of the manufacturing industry.