BLYB is a joint venture company jointly invested by Liaoning Bolai Enterprise Group Co., Ltd., one of the top 500 enterprises in China, and one of the world's largest chemical companies.

The first phase of the company's project covers an area of ​​3,300 mu and was officially put into operation on September 1, 2020. The (Baolai Chemical Co., Ltd.) project was launched in April 2017. During the 13th Five-Year Plan period, Liaoning Baolai Enterprise Group planned to implement a comprehensive utilization project of 3 million tons/young hydrocarbons in accordance with the strategic goals of "baseization", "clusterization" and "integration".

In 2017, Leander Basel Industrial Co., one of the world's largest plastics, chemicals and oil refining companies, conducted cooperative contacts with the Bora Group. With the strong support of the Liaoning Provincial Party Committee and the Provincial Government, the two sides officially signed a joint venture cooperation agreement on March 6, 2020. On March 31, 2020, the joint venture passed the approval of the name change and obtained the national antitrust review on April 23, 2020. On August 28, 2020, the joint venture was successfully delivered, and the equity transfer amount was $472 million. On September 1, 2020, the first phase of the petrochemical project of Bora Liande Basier Petrochemical Co., Ltd. was officially completed and put into production.

The main equipment of the first phase project includes 1 million tons/year cracking device, 450,000 tons/year LLDPE device, 350,000 tons/year HDPE device, (40+200,000 tons/year polypropylene device, 120,000 tons/year 200,000 tons/year Ethylene extraction device, 400,000 tons/year cracked gasoline hydrogenation device, 250,000 tons/year aromatic hydrocarbon extraction device, 12/35,000 tons/year MTBE/butene-1 device, 350,000 tons/year styrene device, As well as supporting public works and auxiliary facilities.

After the project is completed, Panjin will become the world's polyolefin and chemical production base, and will drive the development of related industrial chains including plastic packaging, building materials, engineering construction, equipment manufacturing, transportation and warehousing, and it is expected to drive investment of more than 100 billion yuan in related industries. , will further promote Liaoning's petrochemical industry to develop towards scale, green, high-end and clustering, and make new and greater contributions to the revitalization of Liaoning Province.