Home / Knowledge / News / Textiles / Keyuan adds desulfurization process at refining plant
Keyuan adds desulfurization process at refining plant
20
Jul '10
Keyuan Petrochemicals, Inc., a leading independent manufacturer and supplier of various petrochemical products in China, announced that it has completed and placed in service, effective July 1, 2010, a new desulfurization process at its current refining facility for BTX aromatics. By reducing the sulfur content, the Company will be able to realize higher selling prices and improved margins on certain of its BTX aromatics.

More specifically, the new process is being applied to Keyuan's BTX light aromatics, which account for 200,000 metric tons (MT) of the Company's total BTX aromatic production capacity of 345,000 MT a year. At the Company's current utilization rate of 100%, the higher pricing on BTX light aromatics could generate approximately $2.9 million in additional net profit per year.

The total investment made in adding the desulfurization process totaled about $4.4 million and is expected to be recovered within 1.5 years. BTX Aromatic products include benzene, toluene, xylene and other chemical components for further processing into oil resin, gasoline and solvent materials used in paint, ink, construction coating and pesticides.

"Keyuan strives to use technological capability to enhance our product offerings to better meet our customers' demands for more value-added, refined products," stated Mr. Chunfeng Tao, founder, chairman and chief executive officer of the Company.

"By adding this desulfurization process, we will be able to realize higher average selling prices for our light aromatics, further enhance our margins and improve the return on our installed asset base. In addition to this process improvement, as previously announced, we are also expanding our overall production and facility capacity in order to capitalize on China's growing demand for refined petrochemical products."

Growing demand driven by China's robust economic growth, coupled with under-developed domestic production capacity, has led to an imbalance in supply and demand for refined petrochemical products that is likely to persist for many years. Due to the supply-demand imbalance that exists in China, Keyuan's customer order requests for 2010 have exceeded its current annual production capacity.

At March 31, 2010, Keyuan had annual petrochemical manufacturing capacity of 550,000 MT of a variety of petrochemical products, including BTX aromatics. In order to grow its business to meet its backlog and increasing customer demand, Keyuan plans to expand its petrochemical manufacturing capacity to 600,000 MT in 2011. The Company also plans to double its storage capacity to 200,000 MT by the end of 2011, and to add a new raw material pre-treatment facility and an asphalt production facility in 2012.

Keyuan Petrochemicals Inc

Must ReadView All

Textiles | On 19th Jan 2017

Pakistan imposes duty on Indian fine cotton yarn

A provisional countervailing duty ranging from Rs 26.89 to Rs 55.8 a...

Textiles | On 19th Jan 2017

Union Budget: Textile sector expects excise duty revisions

Excise duty on man-made fibres should be reduced to bring it on par...

Union textiles minister Smriti Irani at the inauguration of IIGF in New Delhi with textiles secretary Rashmi Verma and other dignitaries. Courtesy: PIB

Apparel/Garments | On 19th Jan 2017

Ministry to reimburse apparel exporters for state levies

The textile ministry has received a sum of Rs 500 crore from the...

Interviews View All

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search