CNCEC-Contracted World's Largest Integrated Ethylene Project in Smooth Progress

Construction of the second phase of the chemical complex project in the Baltic Sea in Russia started on Oct 9 as China National Chemical Engineering Group Corporation Ltd (CNCEC), the contractor, received advance payment of 760 million euros ($893.3 million).

The second phase mainly includes long-term equipment purchase as well as design, purchase and construction of some on-site temporary facilities and public facilities.

Valued at about 12 billion euros, the complex is the world's largest integrated ethylene project and its most valuable project in the petroleum field.

Separated into three phases, the project is to construct a joint petrochemical facility that is capable of producing 2.8 million tons of ethylene annually. It will follow and be equipped with the world's most advanced standards and technologies.

It is a part of the large-scale natural gas liquefaction and processing plant launched by Public Joint Stock Company Gazprom and JSC RusGazDobycha in Ust-Luga.

During construction, CNCEC will provide more than 6,000 jobs for local people and will arrange technical training for them.

Upon completion, it is expected to play a key role in the natural gas liquefaction and processing plant. More than 3,000 local people will get long-term and stable jobs there, which will increase locals' income and promote regional economic and social development.