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Dongfang Shenghong plans to build two major projects with an investment of over 14 billion yuan

 Last Update: 2023-03-04
 Source: Internet
 Author: User

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Dongfang Shenghong issued two consecutive announcements on March 24, planning to build two major projects with a total investment of over 14 billion yuan
.

Dongfang Shenghong announced that Lianyungang Hongke New Materials Co.
, Ltd.
, a tertiary holding subsidiary, plans to invest in the construction of the degradable material project (Phase I)
.

The total investment of the project is 7.
471 billion yuan, and the construction period is 3 years.
It is planned to build a 340,000-ton/year maleic anhydride unit, a 300,000-ton/year BDO unit, a 180,000-ton/year PBAT unit and public and auxiliary facilities
.

The announcement stated that the project and Shenghong Refining and Chemical (Lianyungang) Co.
, Ltd.
’s 16 million-ton refining and chemical integration project are supporting projects in the upstream and downstream industry chains.
BDO is produced by anhydride method, combined with PTA produced by Jiangsu Honggang Petrochemical Co.
, Ltd.
, a second-level wholly-owned subsidiary of the company, to further produce PBAT degradable materials, extend the industrial chain downstream, increase the added value of products, and improve the comprehensive competitiveness and profitability of the company.

Another announcement of Dongfang Shenghong stated that its second-level wholly-owned subsidiary, Honghai New Materials (Suqian) Co.
, Ltd.
, plans to invest in an intelligent functional fiber project with an annual output of 1 million tons
.

With a total investment of 6.
655 billion yuan, the project will be constructed in two phases, each with a construction period of two years
.
The project plans to build an annual output of 1 million tons of intelligent functional fibers, mainly including 42 polyester filament POY (pre-oriented yarn) production lines, 6 FDY (full drawn yarn) production lines, production plants, and auxiliary facilities
.

According to the announcement, the project is also a downstream industrial chain supporting project of Shenghong Refinery's 16 million-ton refining and chemical integration project
.

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