During the "Twelfth Five-Year Plan", Sinopec Xinjiang will invest more than 140 billion yuan in coal chemical industry investment

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Zhang Chunxian, party secretary of the Xinjiang Uygur Autonomous Region, and Nur Baikli, chairman of the autonomous region, met in Beijing with Fu Chengyu, chairman of China National Petrochemical Corporation, and Wang Tianpu, general manager of the company. The two sides exchanged ideas on how to promote mutual development and effective use of energy.

Zhang Chunxian said that Xinjiang has abundant resources and provides a solid guarantee for oil and petrochemical enterprises to further reduce costs and enhance their competitiveness. It is hoped that Sinopec will rely on Xinjiang’s resource advantages to benefit the development of the local people. The autonomous region will further cooperate with and support the development of central enterprises including Sinopec in Xinjiang, and further promote project construction.

Fu Chengyu said that in recent days, Sinopec has developed rapidly in Xinjiang, with greater efforts in exploration and development, and the progress of refinery and coal gas projects has accelerated, and the sales network is maturing. Sinopec will fulfill its responsibilities for aiding Xinjiang and further participate in the development of Xinjiang, the construction of large-scale development, the upsurge of development, with practical actions to promote Xinjiang's leap-forward development and long-term stability.

It is understood that based on the 45 billion yuan investment in the “Eleventh Five-Year Plan”, Sinopec will invest more than 140 billion yuan in Xinjiang during the “Twelfth Five-Year Plan” period for exploration, development, refining and chemical industry, coal chemical industry, and natural gas transmission pipelines and oils. Product sales, related equipment manufacturing, etc. At the same time, Sinopec will innovate in Xinjiang's investment model, strengthen cooperation with local governments in Xinjiang, and maximize the benefits of resource development.

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