The Shanghai Secco Petrochemical Company Ltd (SECCO) has broken ground on a 900,000 tonne/year ethylene cracker plant last week. The construction at the Shanghai Chemical Industrial Park was launched by Huang Ju, member of the Politbureau, Central Committee of Communist Party of China and Party Secretary of Shanghai Municipality.
The key participants at the event included Chen Jinhua, vice chairman of CPPCC, Sheng Huanren, member of NPC, Chen Liangyu, mayor of Shanghai Municipality, Li Yizhong, CEO of the Sinopec Group and chairman of Sinopec Corp, Jiang Yiren, executive vice mayor of Shanghai, Wang Jiming, president of Sinopec Corp, Cao Xianghong, vice president of Sinopec Corp, Byron Grote, BP managing director and CEO BP Chemicals, Gary Dirks, BP group vice president and CEO of BP China, and Graham Hunt, vice chairman of SECCO.
SECCO is a joint venture between BP, Sinopec and Shanghai Petrochemical Corporation (SPC) with equity holdings of 50:30:20 per cent respectively. The complex is being constructed in Shanghai Chemical Industrial Park and, with a total investment of $2.74 billion, represents one of the largest chemical ventures in China.
The SECCO complex will comprise a 900,000 tonne/year naphtha-fed ethylene cracker and downstream derivative petrochemical plants, including combined polyethylene (600,000 tonne/year), polypropylene (250,000 tonne/year) and polystyrene (300,000 tonne/year).
The SECCO complex is expected to begin operation in 2005. Using the world’s most advanced technology, combined annual production will be 2.28 million tonnes of high quality chemical products. These will supply primarily the domestic market and serve as import substitutes to meet constantly increasing market demand.