The Huajin Aramco petrochemical project – a priority project for Chinese-Saudi energy cooperation – has entered the intensive construction phase, and is a mega project in northeastern China, according to Xinhua.

The project aims to build a global base for the petrochemical and fine chemical industry in Liaoning Province, northeastern China. The project is being implemented in the coastal Liaobin economic and technological development area in the city of Panjin, and the project area is witnessing active movement with the work of machinery and the enthusiasm of workers.

Civil construction work has recently begun, and the number of construction workers currently amounts to more than 4,000 people, and the number of workers is expected to reach 10,000 workers next May. The overall progress rate for project completion is close to 30%, and more than 18 billion yuan (about 2.5 billion US dollars) in the project during the current year; Bringing the total progress to 50%.

The annual production capacity of the project – with a total investment value of 83.7 billion yuan (about 11.6 billion US dollars) – is expected to reach 15 million tons of refined oil, and the project will also produce 1.65 million tons of ethylene and 2 million tons of para-xylene. The project will achieve an annual income of more than 100 billion yuan, a total profit of more than 10 billion yuan, and tax revenue of more than 20 billion yuan.