Indorama Ventures enters into license agreement with Shandong Binhua New Material Co. Ltd
Published by Bella Weetch,
Editorial Assistant
Hydrocarbon Engineering,
Indorama Ventures Public Company Limited (IVL), a global sustainable chemical company, has signed a license agreement with Shandong Binhua New Material Co., Ltd. (Binhua), a subsidiary of Befar Group, a leading petroleum and chemical enterprise in China, to build, own and operate a propylene oxide (PO), t-butanol (TBA) and t-butyl methyl ether (MTBE) co-production unit.
Featuring one of the world’s only MTBE ‘single-step’ reaction technologies, IVL’s proprietary innovation, the project is part of the ‘C3 and C4’ comprehensive utilisation project in Shandong, China. It is one of the largest in the province, covering an area of over 1 million m2.
“On completion, this project will be able to produce 600 000 t of propylene, 800 000 t of butane isomerisation, 150 000 t of synthetic ammonia, 240 000 t of propylene oxide and 742 000 t of MTBE per year. With the lowest operational cost of all other propylene oxide technologies and close to 50 consecutive years of successful and safe operation, the license with IVL was selected because of its superiority, unique features, and competitiveness,” said Mr. Liu Hongan, Vice President of Befar Group and General Manager of Shandong Binhua New Material Co. Ltd.
Under the contract, IVL will provide a design package, technology, operational know-how and training to enable the construction and operation of a PO co-production with MTBE and TBA units for Binhua. The plant is part of a larger complex comprising propane dehydrogenation to propylene, butane isomerisation, synthetic ammonia, and other installations.
Alastair Port, Executive President, Integrated Oxides and Derivatives (IOD), IVL, said: “IVL is honoured to be providing this important technology license, enabling the monetisation of Binhua’s raw materials in Shandong Province with a world-class and cost-effective plant. Our technology uses 130 US patents and more than four decades of continuous development. This allows IVL to provide both the license, and owner/operator knowledge to deliver the quality and effective solutions a project of this scale requires.”
Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/30062022/indorama-ventures-enters-into-license-agreement-with-shandong-binhua-new-material-co-ltd/
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