In a recent meeting held by the Tianjin Development and Reform Commission on September 22, it was announced that over the next decade, Tianjin will invest 268 billion yuan to develop a robust petrochemical industry. This includes constructing three sets of 10-million-ton oil projects, ten 1-million-ton petrochemical projects, and establishing three major petrochemical industrial parks. The initiative aims to create more than six enterprise groups with annual sales revenue exceeding 40 billion yuan, generating an estimated 80 billion yuan in annual profits and taxes.
According to Zhang Dongsheng, director of the Petrochemical Office at the Tianjin Development and Reform Commission, the city is already a key player in China's petrochemical sector, supported by abundant natural resources such as oil, natural gas, and sea salt, as well as advanced infrastructure like ports and logistics systems. In line with the national medium- and long-term development plan for oil refining and ethylene, Tianjin has been designated as a state-level petrochemical base, featuring a 10-million-ton crude oil refining capacity and millions of tons of ethylene production.
Additionally, the National Petroleum Strategic Reserve Office has included Tianjin in the third batch of national crude oil strategic reserve bases, planning to build 10 million tons of crude oil storage facilities and 8 million tons of refined oil reserves. Major domestic petrochemical companies like Sinopec and PetroChina are also showing strong interest in the region, with plans to build large-scale oil refining, ethylene, and liquefied natural gas (LNG) projects.
From 2005 to 2015, Tianjin plans to complete three 10-million-ton oil projects, including two large-scale oil refineries and one dedicated for strategic reserves. On the petrochemical front, the city will construct ten 1-million-ton projects, covering ethylene, LNG, polyvinyl chloride, polyethylene, and polypropylene. Three major industrial zones are being developed: the Dagang Petrochemical and Chemical Fiber Industrial Zone, the Lingang Petrochemical Marine Chemical Zone, and the TEDA Fine Chemicals District, each focusing on different aspects of the chemical industry.
Once fully developed, the Tianjin national petrochemical base is expected to rank second in China, just behind Shanghai, and reach the 10th position in Asia. Globally, it is projected to be among the top 22 petrochemical bases worldwide, solidifying its status as a leading hub in the industry.
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