Jinneng Technology: 500 million yuan of funds raised to change investment in 900,000 tons of PDH and 450,000 tons of high-performance PP projects

Jinneng Technology announced on June 29 that in order to improve the use efficiency of the raised funds and enhance the company's performance, the company plans to change the 2×450,000-ton/year high-performance polypropylene project invested by the raised funds.
The project originally planned to use the raised funds to invest 10 The implementation entity is Jinneng Chemical (Qingdao) Co.
, Ltd.
The investment amount involved in this change is 500 million yuan, accounting for 50.
04% of the total project financing
.
As of June 15, the 2 × 450,000 tons/year high-performance polypropylene project has used 530 million yuan of raised funds, and the proposed change is 500 million yuan
.

According to its own development needs, it plans to change some of the investment projects with raised funds.
The plan is as follows: 1.
Keep a set of 450,000 tons/year high-performance polypropylene projects in the original investment projects unchanged (using the Spheripol process)
.
2.
Newly added 900,000 tons/year propane dehydrogenation project and 450,000 tons/year high-performance polypropylene project (using Spherizone process)
.
After the company's investment projects are changed, the raised funds will increase the scope of use.
The investment projects are 900,000 tons/year propane dehydrogenation, 450,000 tons/year high-performance polypropylene (using Spherizone process) project (hereinafter referred to as "new project").
The main body of the project is Jinneng Chemical (Qingdao) Co.
,
Ltd.