Source: Sinochem New Network October 14, 2019

Sinochem.com.cn On October 11, Dai Hegen, Secretary of the Party Committee and Chairman of China National Chemical Engineering Group Co., Ltd. (China Chemistry), and Mr. Konstantin Makhov, CEO of RusGasDobycha, Russia Signed the FEED+EPC general contract for the Russian Baltic Chemical Complex (BCC) project in Chengdu, Sichuan, with a contract value of approximately 12 billion euros.

In an interview with reporters, Dai Hegen pointed out: \"Russian Baltic Chemical Complex (BCC) project has'the three most', it is the world's largest ethylene integration project, is currently the world's largest single contract project in the petrochemical field It is also the project with the largest amount of contracts signed by Chinese enterprises “going out”. The successful signing of the project is the latest achievement of the “Belt and Road Initiative” proposed by President of China Chemical Industry Internship Jin Ping.\"

The project is one of the large-scale natural gas liquefaction and processing plant projects implemented by Russian Gazprom and RusGasDobycha in Ustruga, Russia. RusGasDobycha independently invested in the construction. The scale of the project is an annual output of 2.8 million tons of ethylene, 2.88 million tons of polyethylene and other petrochemical complexes, using the world's most advanced process technology. The petrochemical complex will become the most important part of the owner’s entire industrial chain development strategy with its huge scale and process depth, which will greatly promote local economic and social development and enhance the well-being of the people.

At present, China Chemical has more than 320 overseas projects under construction, with a cumulative contract value of more than US$58 billion. The projects are located in more than 60 countries and regions including Russia, Indonesia, Malaysia, UAE, Saudi Arabia, Pakistan, Kazakhstan, Turkey, and Egypt. Among them, there are more than 220 projects under construction in the countries along the \"Belt and Road\", with a total contract value of nearly 45 billion U.S. dollars, helping foreign owners to raise more than 20 billion U.S. dollars in China, and driving the export of Chinese mechanical and electrical products and other goods 21.5 billion U.S. dollars.

As the founder and builder of China's petroleum and chemical industry system, Sinochem has in recent years represented China Chemical Engineering Seventh Construction Co., Ltd. (referred to as Qihua Construction) to fully utilize its unique advantages in the field of petrochemical construction , Deeply plowing the Russian market, fruitful. There are 6 large-scale petrochemical projects that have been completed and are being executed. Among them, the completed TAF project won the Luban Prize for China's overseas projects, and was praised by the President of the Republic of Tatarstan as \"Russian Star Project Built by Chinese Enterprises\". On June 5, this year, under the joint witness of Chinese President Xi Jinping and Russian President Putin, Dai Hegen, on behalf of China Chemical, signed a contract with the Russian Nakhodka Fertilizer Company in the Moscow single-series largest methanol plant with an annual output of 1.8 million tons. The total amount is nearly 1.5 billion US dollars. During the 23rd St. Petersburg International Economic Forum, Sinochem and Oil Gas Holding signed a cooperation agreement for the PAYAKHA oil and gas field project, involving a contract value of USD 5 billion.

It is reported that the project is undertaken and specifically implemented by Qihua Construction under China Chemical. Qihua has more than 10 years of engineering contracting experience in Russia, and has good cooperative relations with many large oil and gas companies such as Gazprom, Gazprom, Lukoil, and Sibur. During the construction of the project, Sinochem can provide more than 6,000 local jobs and provide technical and skill training for the employees. After the project is completed, it will provide more than 3,000 long-term and stable jobs, greatly promoting the local economic development and the improvement of people's livelihood.