PetroChina's 11.6 billion yuan high-end polyolefin project achieves high-quality mechanical completion, accelerating POE localization

On August 16, the summary meeting for the high-quality mechanical completion inspection of the Blue Ocean New Materials High-End Polyolefin New Materials Project was held at the project site. The meeting comprehensively reviewed the progress of the project's high-quality mechanical completion, deeply analyzed the issues discovered during the inspection, and systematically deployed key tasks for the next phase, marking a critical step towards the project's production goal.

Project Overview: High-End Polyolefin Capacity Layout in the Yangtze River Delta

The project commenced construction in Nantong, Jiangsu on September 26, 2024, and includes 16 supporting downstream high-end and differentiated chemical units. Its main products include Polyolefin Elastomers (POE) and metallocene polyethylene, which can be widely applied in fields such as aerospace, medical health, automotive, photovoltaics, and high-end packaging films.

The project utilizes PetroChina's proprietary technology units. It will fully leverage PetroChina's existing resources and technological advantages, combined with the locational and market strengths of the "Yangtze River Delta," to focus on two major directions: polyolefin elastomer POE and solution-process full-density polyethylene. The aim is to achieve technological breakthroughs and import substitution.

Investment Scale: Over 11.6 Billion Yuan to Build a New Materials Base

According to the first public notice of the environmental impact assessment for the Blue Ocean New Materials (Tongzhou Bay) Co., Ltd. High-End Polyolefin New Materials Project (Re-submission) released in February 2025, the total investment of the project reaches 11.62601 billion yuan (approximately 11.626 billion RMB), classifying it as a large-scale petrochemical new materials project.

Industry Significance: Accelerating POE Import Substitution

POE (Polyolefin Elastomer) is a core material in fields such as photovoltaic encapsulation films, automotive modified plastics, and high-end packaging. For a long time, high-end products have relied on imports. With the continuous expansion of the domestic photovoltaic industry and rising demand for automotive lightweighting, the localization process of POE has garnered significant attention within the industry. Relying on PetroChina's proprietary technology, the Blue Ocean New Materials project is expected to break foreign technology monopolies in the fields of POE and solution-process full-density polyethylene, thereby increasing the self-sufficiency rate of domestic high-end polyolefin materials.

Currently, the project has entered the critical finalization phase following mechanical completion. Subsequent work will focus on rectifying issues identified during the inspection item by item and steadily advancing preparations for commissioning. Upon completion and operation, the project will further perfect the layout of the domestic high-end polyolefin industrial chain and provide key material support for strategic emerging industries such as downstream photovoltaics, new energy vehicles, and medical health.