Qixiang Tengda released two new chemical projects

On the evening of April 29, Qixiang Tengda released two project investment announcements in succession.
On the one hand, it plans to invest in the construction of 80,000 tons/year acrylic acid and 60,000 tons/year butyl acrylate projects, and the 700,000-ton PDH project that has been put into production.
Form an industrial chain linkage; on the other hand, use the by-product hydrogen of PDH and other devices to invest in hydrogen transformation and upgrading projects
.
At the same time, the company announced the first quarter report of 2022 that night, with revenue of 7.
927 billion yuan in the first quarter
.

Invest 546 million to build 80,000 tons/year acrylic acid and 60,000 tons/year butyl acrylate project

The main contents of the investment announcement are as follows:

Zibo Qixiang Tengda Chemical Co.
, Ltd.
(hereinafter referred to as the "Company") held the 22nd meeting of the 5th Board of Directors on April 28, 2022, reviewed and approved the "Regarding the Investment and Construction of 80,000 tons/year of acrylic acid and 60,000 tons of acrylic acid".
Proposal for the butyl acrylate project per ton/year", agreeing that the company will invest in the construction of 80,000 tons/year acrylic acid and 60,000 tons/year butyl acrylate project
.
Details are as follows:

1.
Overview of the proposed project

1.
Name of the proposed project: 80,000 tons/year acrylic acid and 60,000 tons/year butyl acrylate project
.

2.
Project implementation entity: The project is invested and constructed by Zibo Qixiang Tengda Chemical Co.
,
Ltd.

3.
Background and necessity analysis of the project

Acrylic acid is an unsaturated carboxylic acid with a wide range of downstream applications.
It is an important intermediate between petrochemical bulk products and downstream fine chemical products.
About 50% of it is used in acrylates, and the remaining 50% is used in SAP and other polyacrylic acids.
copolymer
.
Acrylic acid and its esters, by themselves or mixed with other monomers, will polymerize to form homopolymers or copolymers
.
Commonly copolymerizable monomers with acrylic acid include amides, acrylonitrile, vinyl-containing, styrene, butadiene, and the like
.
These polymers are used to produce a wide variety of plastics, coatings, adhesives, elastomers, floor polishes and coatings
.

The propylene produced by the company can be transported to this project through pipelines, providing sufficient raw material supply for the production of acrylic acid, which can further reduce the production cost of the product and enhance the profitability of the company's products.
The overall economic efficiency of the company is of great significance
.

4.
Project investment estimates and funding sources

The estimated total investment of the project: 546 million yuan, of which the fixed assets investment is 455 million yuan, and the initial working capital is 17.
2 million yuan, all of which are self-raised by the company
.

5.
Project construction period: The estimated construction period of the project is 12 months (excluding project declaration)
.

The impact on the company

The company plans to invest in the construction of 80,000 tons/year acrylic acid and 60,000 tons/year butyl acrylate projects with the characteristics of environmental protection, energy saving and high efficiency, which are in line with the national industrial policy development plan
.
This project can form the upstream and downstream linkage of the industrial chain with the company's 700,000 tons/year propane dehydrogenation project, which is conducive to giving full play to the advantages of industrial integration, so as to effectively control costs and maximize product benefits
.

Invest in the hydrogen transformation and upgrading project to realize the high-value utilization of by-product hydrogen such as PDH

In order to improve the utilization of by-product hydrogen from the company's PDH units and other units, also on the evening of April 29, the company announced the announcement of the construction of a hydrogen transformation and upgrading project
.
The main contents are as follows:

Zibo Qixiang Tengda Chemical Co.
, Ltd.
(hereinafter referred to as the "Company") reviewed and approved the "Proposal on Investing in the Construction of Hydrogen Transformation and Improvement Projects" at the 22nd meeting of the 5th Board of Directors held on April 28, 2022.
The company It is planned to invest in the construction of a 6000Nm³/h pure hydrogen filling device, a 1500Nm³/h pure hydrogen filling and relocation device, a 9000Nm³/h hydrogen filling and relocation device, a hydrogen energy power generation system and related supporting devices.
After the project is completed, the company will have a capacity of 16500Nm³/h Hydrogen loading capacity
.