China Coal Pingshuo 29.7 billion coal-based olefin new materials project site research to promote, "coal → methanol → olefins → special materials" the whole chain is expected to be put into production before the end of 2028.

Recently, Liu Liang, member of the Standing Committee of Shuozhou Municipal Committee and vice mayor of Shuozhou City, Shanxi Province, China, went to the site of China Coal Pingshuo coal-based olefin new materials and downstream deep processing integration project to investigate the site leveling construction progress and construction schedule, and asked all departments to fully promote the project to start, complete and put into operation early. This high-level research released a clear signal of government promotion, and the strategic priority of the project was further clarified.

Panoramic view of the project: 29.7 billion and 196 hectares, with bituminous coal reaching high-end new materials.

The construction unit of the project is China Coal Pingshuo Group Co., Ltd., and the construction site is located in Chaoyang New Material Industrial Park, Pinglu Economic and Technological Development Zone, Shuozhou City, Shanxi Province, China. The total investment is 29.7 billion yuan, covering an area of 196 hectares, and the construction period is 3 years. The total number of personnel is 300.

The core raw material is high sulfur and high ash melting point bituminous coal from Pingshuo East Open-pit Mine, which is difficult to burn and utilize directly. Through gasification, methanol is converted into high-end new materials, which not only solves the problem of the way out of low-quality coal, but also realizes the maximum value of resources. The complete industrial chain path is: coal & rarr; gasification & rarr; synthesis gas & rarr; 2.2 million tons/year methanol & rarr; 900000 tons/year coal-based olefin new material comprehensive product, forming "coal & rarr; methanol & rarr; olefin & rarr; diversified high-end materials" complete integrated closed loop.

Device matrix: basic polyolefin cash flow, special materials pull added value.

The two-line strategy of the project device layout is the core of understanding its competitive logic.

In terms of basic olefin chain, 900000 tons/year MTO plant produces olefins, downstream supporting 400000 tons/year polyethylene and 350000 tons/year polypropylene, totaling 750000 tons/year polyolefin production capacity, forming the main cash flow of the project and providing stable basic income.

Special material extension chain is the biggest highlight of this project. Four routes are arranged in coordination: 50000 tons/year ultra-high molecular weight polyolefin (UHMWPE), 50000 tons/year ethylene propylene rubber (EPR), 90000 tons/year acrylic acid and 40000 tons/year high water absorbent resin (SAP). These four varieties belong to the high value-added subdivision track, effectively avoiding the price of pure polyolefin homogenization competition.

Among them, the synchronous layout of ethylene propylene rubber and SAP is particularly worthy of industry focus. China's domestic high-end ethylene propylene rubber long-term dependence on imports, low localization rate, SAP is the core raw material of baby diapers, agricultural water-retaining materials, China's demand continues to grow but high-quality domestic production capacity is scarce, both belong to the tight supply and demand of high-value track, once put into production will form a substantial substitution pressure on the existing import pattern.

In terms of green supporting facilities, the project will simultaneously build a 10000 cubic meters/hour electrolytic water hydrogen production device to provide green hydrogen support for the production device, which is in line with China's "double carbon" target direction and is also an important manifestation of the green upgrade of coal chemical projects.

Strategic Positioning: The Core Fulcrum of Shuozhou Coal Chemical Transformation

liu Liang in the research of certainty: this project is the transformation and upgrading of coal chemical industry in Shuozhou City benchmark project and new quality productivity cultivation core project, is relying on coal resources to extend the industrial chain, break through the bottleneck of traditional coal chemical development, build a green low-carbon recycling industry system of the "ballast stone" and "strong engine".

The resource logic of the project is highly consistent with the strategic direction of "replacing oil with coal and reducing external dependence on chemical raw materials" established by China's revised Coal Law. Under the background of intensive layout of coal chemical production capacity in Northwest China, the project takes special materials as the competitive fulcrum for differentiation, and has higher profit elasticity and anti-cycle ability compared with similar bulk polyolefin projects.

Production time node and industry tracking suggestion

at present, the project is in the final stage of site leveling and has not yet officially started. According to the calculation of the 3-year construction cycle, if the construction starts smoothly in the near future, the fastest production window will be from the second half of 2028 to 2029, forming a centralized release window with northwest coal chemical projects such as Hengyi Petrochemical Coal to Ethylene Glycol (the first half of 2028) and Xinjiang Shaneng Chemical Coal to Olefins. At that time, the supply pattern of polyolefin and special chemicals in the northwest will undergo a deep adjustment.

For traders related to polyethylene, polypropylene, ethylene-propylene rubber, SAP, UHMWPE and acrylic acid, it is suggested that the official commencement announcement of the project should be taken as the key tracking node-the accurate starting of the construction cycle at that time will provide a more reliable basis for the prediction of the production time and is also an important signal window for starting the adjustment of the medium-and long-term supply chain strategy.