East China’s Jiangsu province reported steady growth in industrial investment since the start of this year, as is evidenced by the increasing confidence in business development, rapid rebound in industrial investment, and significant growth in the number of new investment projects.
From January to May, Jiangsu registered a year-on-year increase of 11.6% in industrial investment, up 32.7 percentage points from the same period last year.
514 provincial key industrial projects have fulfilled the planned investment ahead of schedule.
In Lianyungang Xuwei New District, remarkable progress has been made in the construction of Shenghong Refining and Chemical Integration Project, the largest of its kind in terms of single process, as is evidenced by the fact that the first batch of main production equipment such as atmospheric and vacuum distillation has been delivered to be ready for production.
Yu Huiyong, General Manager of Shenghong Refining & Chemical (Lianyungang) Co., Ltd.
Shenghong's refining and chemical integration project is industry-leading in terms of equipment scale, process technology, and design concepts as it has fundamentally solved the problems of low resource utilization and high energy consumption and emissions in the industrial chain that are common in the petrochemical industry and provide important support for the realization of the carbon emission peak and carbon neutrality goals.
The refining and chemical integration project adopts international leading technology to increase the domestic structure of scarce chemical products from about 50% to more than 70%.
When put into operation next year, the project will produce 16 million tons of refined crude oil each year and 80% of the raw materials and products will be mutually supplied in the base, forming a complete high-end petrochemical industry chain and provide raw material guarantee for the development of new energy, new materials, and biotechnology strategic emerging industries.
In the meantime, a number of pillar emerging industries throughout the province have accelerated their intelligence-oriented and digitalized upgrading.
The Longyuan Sheyang offshore wind farm, which is about 40 kilometers offshore, ensures remote control of the number and time of daily operating units according to wind speed and grid requirements in real time by the onshore centralized control center.
The smart offshore wind turbine independently researched and developed by Envision Energy uses more than 20% more wind energy than traditional wind turbines, and generates 13% more power.
Dai Xiaocheng, Production Manager, Sheyang Yuanjing Energy Technology Co., Ltd.
Envision Energy won 1998 megawatt hours in bidding for offshore wind turbines, ranking first in China. At present, Envision has invested in offshore wind power projects in Jiangsu, Shandong, Zhejiang, Guangxi and Hainan.
In the meantime, Jiangsu has reported a rapid increase in the number of new investment projects placed on file since the start of this year. 1446 projects report individual investment of 50 million yuan, totaling 303.1 billion yuan of investment, standing for a respective increase of 78.7% and 155.9% year on year.
