On August 6, SSC unveiled Sinopec Energy and Environmental Engineering Co., Ltd. in Wuhan East Lake High-tech Development Zone. SSC Chairman Jiao Fangzheng, Vice Chairman and President Zhu Ping and Director of Wuhan East Lake High-tech Development Zone Management Committee Zhang Wentong attended the unveiling ceremony.
The establishment of Sinopec Energy and Environmental Engineering represents an important move by SCC to pursue the duo transformation of its personnel and business structures in order to achieve transformative, innovation-driven and efficient growth. As the first energy conservation and environmental engineering business in Sinopec Group, Sinopec Energy and Environmental Engineering will provide strong technological support to Sinopec Group in developing circular economy, building a resource-conserving and environment-friendly conglomerate and realizing its vision of “Clean Water, Blue Sky”. With fast and healthy growth in its energy and environmental business, SCC is expected to make new growth points.
After years of development, SCC boasts 79 core energy-conserving and environmental technologies, more than 150 technological patents and proprietary rights, and five certified design units for energy and environmental engineering projects. In the process of establishing Sinopec Energy and Environmental Engineering, SCC overhauled its design branch in Jianghan, consolidated its selected resources into the Technological Research Center, and succeeded in its first step to optimize resources as well as promote specialized and corporate operation of its environment business.
Sinopec Energy and Environmental Engineering will provide policy research, planning and technological support to upstream business of Sinopec Group as well as energy and environment markets in China and other countries. It will provide comprehensive services, including energy and environmental technological research and integration, project consulting, general contracting, operation, assessment and monitoring. With operation in such fields as energy performance contracting and environment management contracting, Sinopec Energy and Environmental Engineering aims to become a contractor and technological service provider for comprehensive and integrated energy and environmental projects in China and beyond. It strives to become a first-rate energy and environmental engineering company in terms of technological R&D, system design, product integration, project engineering and operation in China and international markets by 2020.
China’s energy conservation and environmental protection industry is very promising with huge untapped potentials. It is estimated that, by 2015, this industry will generate output worth RMB 4.5 trillion with an annual growth rate of more than 15% and its added value account for about 2% of the country’s GDP. According to China’s 12th Five-Year Plan of the Energy Conservation and Environmental Protection Industry, the output of this industry will reach RMB 8 to 9 trillion by 2020. Recently, the Ministry of Environmental Protection predicted that total private investment in this industry would reach RMB 17 trillion in the next five years due to huge market potentials. As the Chinese government is vigorously addressing pollution and promoting this industry, energy conservation and environmental protection industry will embrace a period of great opportunities and become one of the most promising sunrise industries in China.