Entity

Fujian Gulei Petrochemical Co., Ltd. (福建古雷石化有限公司) is located on the Gulei Peninsula on the southeast coast of China. It was established on November 3, 2016. It is a joint venture between:

•  Fujian Refining and Chemical Co., Ltd. (福建炼油化工有限公司) — China and
• Xuteng Investment Co., Ltd. (phonetic translation, actual english name: Dynamic Ever Investments Limited, Chinese: 旭腾投资有限公司) — Taiwan

with a 50%:50% equity ratio. It is mainly responsible for the operation of the Gulei refining and chemical integration project.

The Phase 1 facility became operational in August 2021, producing ethylene glycol, polypropylene, and styrene. Gulei Petrochemical mainly has 9 sets of chemical equipment, which can provide customers with 18 main products including ethylene glycol, ethylene oxide, styrene, various varieties of polypropylene, ethylene-vinyl acetate copolymer resin, various types of thermoplastic elastomers, as well as ethylene, C₅, C₉, toluene, mixed xylenes, aromatic raffinate oil, butadiene, propylene, etc.

A second phase was launched in November 2024 with RMB 71.1 billion investment, involving Sinopec, Saudi Aramco, and FPCL, with completion targeted for 2030. This represents Taiwan's first major petrochemical investment in mainland China and serves as a significant cross-strait economic cooperation initiative.