Wison Wins Binhua New Material’s 600 KTA PDH EPC Contract

(18 June, 2020, Shanghai) On June 11th, 2020, Wison Engineering (02236.HK) signed an engineering, procurement and construction management (EPC) contract with Shandong Binhua New Materials Co., Ltd. (Binhua New Materials) for a new 600 KTA PDH project. This is the first EPC contract awarded to Wison by Binhua New Materials, and sets up a base for more future collaboration in EPC services. Prior to this contract, Wison and Binhua New Materials signed a design service agreement in February 2019.

This PDH project is part of Binhua New Materials’s C3/C4 Integrated Utilization Project, which is jointly invested by Befar Group Co., Ltd. and Tsinghua Industrial R&D Institute with total investment of over 10 billion RMB. The project is also a focal project under Shandong provincial government planning. The PDH project is deployed with a leading process technology with high energy and material efficiency. This project will further enhance Befar Group’s innovative competitiveness and market competitiveness. Meanwhile, it will strategically integrate Binzhou Chemical Industry Park’s refining-petrochemical cluster horizontally and vertically, and build up industrial chain into from refining to high value-added downstreams.

As an EPC contractor, Wison Engineering will steadily enhance its engineering design capability, optimize processes and improve construction efficiency for this PDH project. We will leverage our engineering expertise built up in numerous projects and close relationship with technology licensor, to provide clients with an integrated service with both technology and engineering services, and ultimately to deliver an optimized and economically-competitive project.

Mr. Jiang Sen, General Manager of Befar Group and Binhua New Materials, acknowledges Wison Engineering’s spirit of customer-first services and endeavor for the best showing during engineering design stage. He also express his appreciation to Wison team for its professional support during project planning stage. Mr. Jiang conveys his vision on this project and emphasizes the significance of close collaboration between Wison Engineering and his team for achieving high-standard completion for this project, and setting up a basis for the long-term cooperation between Wison and Binhua New Materials.

Ms. Vicky Rong, the Chairwoman and Chief Executive Officer of Wison Engineering says, “We express our deepest gratitude to Befar Group and Binhua New Materials for their recognition and trust. We will assign our best experts to the project team, and our team will devote themselves to every stage of this EPC project. We will ensure that the project will meet owner’s every expectation, meet every government’s regulation and policy, deliver a benchmark project, and lay a solid foundation for the long term cooperation with Binhua New Materials."