The country's largest single polypropylene project, the Daqing Refining Company, with
an annual refining capacity of 300,000 tons, has begun operations
in Daqing, in northeast China's Heilongjiang
Province.
According to sources with the company, a subsidiary of Daqing
Oilfield Company, the project, which took 17 months and 1.23
billion yuan (US$148 million) to complete, is one of the five
projects aimed at reinvigorating old industrial bases in the
northeast.
The project will produce 103 varieties of chemical products for
use in various sectors including automobile, chemical fiber,
household electrical appliances and rolled plastic materials.
The plant is projected to reap annual sales income of 2 billion
yuan (US$240 million) and after-tax profits of 300 million yuan
(US$36 million).
(Xinhua News Agency August 15, 2005)