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$26.6 Billion! This High-End New Materials Project Will Be Gradually Completed by the End of the Year
New Chemical Materials 2025-03-05 09:18:49

Recently, an investor asked Satellite Chemical on the investor interaction platform: I saw that the company had previously planned to build a production capacity for ultra-high molecular weight polyethylene (UHMWPE). What is the current progress? What is the planned capacity? When is it expected to start production?

Satellite Chemical responded on February 27th on the investor interaction platform that the ultra-high molecular weight polyethylene (UHMWPE) project is one of the key projects in the company's Lianyungang base high-end new materials industrial park. Currently, the industrial park project is under construction and is expected to be gradually completed by the end of 2025. UHMWPE has broad downstream applications, with good application prospects in lightweight materials, robotics materials, protective equipment, and sports goods (such as snowboards), offering high product value. In the future, Satellite Chemical will continue to lead development through innovation, leveraging the advantages of a full-industry-chain supply, focusing on research and industrialization in key strategic materials and frontier new materials fields such as catalysts, new energy materials, high polymer new materials, and functional chemicals.

Project Updates

On the morning of June 24, 2024, the domestic first α-olefin comprehensive utilization high-end new materials industrial park project (hereinafter referred to as the high-end new materials project) invested and constructed by Satellite Chemical in Xuwei New Area, Lianyungang officially started construction.

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The total investment of the high-end new materials project is 26.6 billion yuan. It is the core strategic deployment of Satellite Chemical to build a low-carbon chemical new materials technology company based on light hydrocarbon integration. The project adopts independently developed high carbon α-olefin technology, extending downstream to produce high-end polyolefins, polyolefin elastomers, lubricant base oils, ultra-high molecular weight polyethylene, and other high-end new materials. The market space is vast, and it also utilizes the by-product hydrogen as a resource, promoting the construction of a new energy system. Relying on the resource and geographical advantages of the Xuwei New Area, the project actively responds to the national "dual carbon" policy, promoting the lightening and green, low-carbon development of petrochemical raw materials, driving the agglomeration of downstream industries such as green hydrogen, high-end polyolefins, and new high polymer materials in the park, greatly enriching and optimizing the industrial structure of the park, and promoting the transformation and upgrading of manufacturing towards higher-end and greener directions.

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