a signing ceremony of the syndicated loan for the propane industrial chain project of sailboat petrochemical, a major project in jiangsu province, was held in lianyungang on the afternoon of april 15. the syndicated loan of rmb 5 billion was successfully set up under the joint leadership of the bank of communications and the bank of jiangsu and with the participation of the exportimport bank of china and china merchants bank, which will provide sufficient fund guarantee for the smooth progress of the project.
the propane industrial chain project of sailboat petrochemical is a key project of shenghong petrochemical group for the highquality development of the petrochemical industry and continuous improvement of the high-end industrial chain as well as a backbone project for the implementation of jiangsu coastal development strategy, the optimization of industrial layout and the boosting of regional economic development.
focusing on national industrial needs, sailboat petrochemical has made its product structure aiming at raw materials in short supply in the new material industry. downstream products are widely used in various fields of the national economy such as green and lowcarbon economy, aerospace, automobile mechanics, electronic equipment, environmental protection, pharmaceuticals and pesticides. it has become a core supplier of acrylonitrile, eva and mma, etc. in china. after the project is fully put into operation, sailboat petrochemical will further maintain its leading position in the industry and accelerate the establishment of an internationally competitive new chemical material production and r&d base to facilitate the green and low-carbon development and transformation of china.
the syndicated loan of rmb 5 billion will be used for the first phase construction of the propane industrial chain project of sailboat petrochemical. the project is now progressing smoothly, with 100% overall design completed and 60% civil construction completed. suppliers of all equipment have been determined and the installation works of the project are already in full swing, marking the entry of the construction into the peak period. the project is advancing with high quality towards the goal of medium-term delivery in september 2021 and completion and commissioning in december 2021.
the public
