China National Offshore Oil Corporation (CNOOC) has unveiled a landmark integrated refining and petrochemical complex in Zhejiang Province, marking a strategic leap in high-end chemical production. The $2.93 billion facility on Ningbo's Daxie Island features 18 advanced units and a total olefin production capacity exceeding 10 million tonnes annually.
Designed to meet growing demand for specialized materials, the complex will produce polypropylene and other chemicals critical for new energy vehicles, electronics, and industrial applications. Construction teams employed innovative technologies to shorten the project timeline by 90 days, setting new efficiency benchmarks for China's petrochemical sector.
The development aligns with China's push for technological self-reliance in energy and advanced manufacturing. Analysts note the project could strengthen supply chains for Asia's automotive and tech industries while attracting overseas investment in Zhejiang's industrial ecosystem.
