Indorama Ventures and Shandong Binhua New Materials reach first licensing agreement in China
Latest News: On June 27, 2022, Indorama Ventures Public Company, a global sustainable chemical company
Limited (IVL) signed a licensing agreement with Shandong Binhua Advanced Materials Co., Ltd. (Binhua Advanced Materials), a subsidiary of Binhua Group, a leading Chinese petroleum and chemical company. The company will build, own and operate a combined production unit for propylene oxide (PO), tertiary butanol (TBA) and tertiary butyl methyl ether (MTBE).
The project is part of the “C3 and C4” comprehensive utilization project in Shandong Province, China, featuring the world’s only MTBE “single-step” reaction technology, derived from IVL’s patented innovation. It is one of the largest projects in the province, covering an area of over 1 million square meters.
Mr. Liu Hongan, vice president of Binhua Group and general manager of Shandong Binhua New Materials Co., Ltd., said: “After the project is completed, it can produce 600,000 tons of propylene, 800,000 tons of butane isomerization, 150,000 tons of synthetic ammonia, and 240,000 tons of cyclohexane every year. Oxypropane and 742,000 tons of MTBE. With the lowest operating costs of all other propylene oxide technologies, and with nearly 50 years of successful and safe operation, the license to partner with IVL was chosen due to its superiority, unique features and Competitiveness.”
Under the contract, IVL will provide a package of design solutions, technology, operational knowledge and training for the construction and operation of a propylene oxide co-production MTBE and TBA project for Binhua Advanced Materials. The plant is part of a larger complex that includes propane dehydrogenation to propylene, butane isomerization, ammonia synthesis and other units.
Alastair, Executive President of IVL’s Integrated Oxides and Derivatives (IOD) business
Port said: “IVL is proud to license this important technology to make Binhua Advanced Materials’ raw materials in Shandong profitable through a world-class, cost-effective facility. Our technology uses 130 U.S. patents and more than 40 years of Continued development. This allows IVL to provide both the license and the knowledge of the owner/operator to deliver the high quality and efficient solutions required for a project of this size.”