DES PLAINES, Ill., Aug. 2, 2011 /PRNewswire/ -- UOP LLC, a Honeywell (NYSE: HON) company, announced today that it has been selected by Zhejiang Julong Petrochemical Co. Ltd (ZJLPC) to provide key technology for a new unit to produce propylene at its facility in Pinghu City, Zhejiang Province, China.
Honeywell's UOP will provide engineering design, technology licensing, catalysts, adsorbents, equipment, staff training and technical service for the project. The unit is expected to start up in 2013 and to produce 450,000 metric tons of propylene per year.
China's propylene consumption accounts for more than 15 percent of worldwide demand and is growing at about 5 to 6 percent per year.
"This project is a significant milestone for UOP because it is the first propane dehydrogenation unit we have licensed in China," said Pete Piotrowski, senior vice president for UOP's process technology and equipment business unit. "We are pleased to work with Zhejiang Julong Petrochemical on this project and to provide the technology that will help meet the world's growing propylene demand."
Bichao Lv, general manager for ZJLPC, said, "We look forward to working with UOP to adopt this technology at the Zhejiang Julong Petrochemical plant, which will add propylene to our product portfolio."
The new propane dehydrogenation unit at the facility will use UOP's C3 Oleflex™ technology to convert propane to propylene, a material used in the production of chemicals and materials such as films and packaging.
The UOP Oleflex process uses catalytic dehydrogenation to convert propane to propylene. Compared to competing PDH processes, Oleflex technology provides the lowest cash cost of production and the highest return on investment, enabled by low operating and capital costs, high propylene yield and reliability, and maximum operating flexibility. Since the technology was commercialized in 1990, Honeywell's UOP has commissioned nine C3 Oleflex units for on-purpose propylene production. Earlier this year, UOP announced a similar project with Abu Dhabi Oil Refining Co., also known as Takreer.
Zhejiang Julong Petrochemical Co. Ltd. (ZJLPC), located in Pinghu City, Zhejiang province, is a fully owned subsidiary of Zhengjiang Changjiang Energy Development Co., Ltd. (CJNY). CJNY is headquartered in Wenzhou City, Zhejiang Province, China.
UOP LLC, headquartered in Des Plaines, Illinois, USA, is a leading international supplier and licensor of process technology, catalysts, adsorbents, process plants, and consulting services to the petroleum refining, petrochemical, and gas processing industries. UOP is a wholly-owned subsidiary of Honeywell International, Inc. and is part of Honeywell's Specialty Materials strategic business group. For more information, go to www.uop.com.
Honeywell International (www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials. Based in Morris Township, N.J., Honeywell's shares are traded on the New York, London, and Chicago Stock Exchanges. For more news and information on Honeywell, please visit www.honeywellnow.com.
This release contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of fact, that address activities, events or developments that we or our management intend, expect, project, believe or anticipate will or may occur in the future are forward-looking statements. Forward-looking statements are based on management's assumptions and assessments in light of past experience and trends, current conditions, expected future developments and other relevant factors. They are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by our forward-looking statements. Our forward-looking statements are also subject to risks and uncertainties, which can affect our performance in both the near- and long-term. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission.
SOURCE UOP LLC, a Honeywell company