The Ningbo Fortune Petrochemical Co. Ltd., a Chinese petrochemical producer, has selected UOPs C3 Oleflex process technology to convert propane to propylene, a high-value monomer used in plastics production.
This is the 18th license for UOPs Oleflex technology worldwide since the beginning of 2011 as petrochemical producers move to meet the growing, global demand for light olefins. This is a repeat technology selection and strong endorsement for UOPs propylene technology by Ningbo Fortunes parent company Oriental Energy Co., Ltd. Oriental Energy is the primary investor in Zhangjiagang Yangzi River Petrochemical Co., Ltd., which announced in 2012 that it will license C3 Oleflex technology for a separate project at Zhangjiagang City, Jiangsu Province, China.
Demand for propylene is expected to continue to be strong globally, especially in China, said Pete Piotrowski, senior vice president and general manager of UOPs Process Technology and Equipment business unit. UOP is helping (to) meet high demand with this proven technology and has licensed Oleflex to 12 Chinese propylene producers.
Ningbo Fortune will build the process unit at its facility in Ningbo City, China. The new propylene unit is forecast to startup in 2016 and will have a production of 600,000 metric tons per year. In addition to technology, UOP will provide training, technological services, catalysts, adsorbents and equipment for the project.
Ningbo Fortune selected Oleflex for its stable catalytic performance and high-product yields. The technology has a very small environmental footprint, low operating cost and can offer a high return on investment.
Ningbo Fortune Petrochemical Co., Ltd., located in Ningbo Daxie Development Park, is a wholly-owned subsidiary of Oriental Energy Co., Ltd.