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On July 1, Shandong Ruifeng Polymer Materials Co.
, Ltd.
(hereinafter referred to as "Ruifeng High-tech Materials") issued the "Feasibility Analysis Report on the Use of Funds Raised by Issuing A-Share Convertible Corporate Bonds to Unspecified Objects"
.
It is understood that on the evening of March 16, Ruifeng Gaocai announced that the company plans to invest no more than 320 million yuan to build a PBAT biodegradable plastic project with an annual output of 60,000 tons in the company's existing factory area, and to lay out a promising biodegradable plastic project.
Degradable plastics market
.
The PBAT project with an annual output of 60,000 tons of biodegradable polymer materials is planned to be constructed in the existing factory of Yiyuan Chemical Industrial Park Company in Zibo City, Shandong Province, covering an area of 35 mu, and no new land acquisition is required
.
This is also the reason why Ruifeng High-tech is based on the growing market demand for biodegradable plastics at home and abroad, combined with the excellent thermal stability and mechanical properties of PBAT, as well as the broad market application prospects in packaging, tableware, disposable medical supplies, mulch and other fields.
The PBAT biodegradable plastic production line to be invested and constructed
.
The total investment of the project is 320,205,300 yuan, of which the construction investment is 293,337,000 yuan, the construction period interest expense is 7,656,000 yuan, and the initial working capital is 19,212,300 yuan
.
The company said that after the project is put into operation, it can expand the company's production scale, which is conducive to optimizing the company's product structure, cultivating new growth points, and improving the company's comprehensive strength
.
Specific investment arrangements
According to Ruifeng High-tech, the funds raised from the issuance of convertible bonds will be used to invest in the company's self-built projects, which is in line with the concept of circular economy and sustainable development, and in line with the country's "improving independent innovation capabilities, building an innovative country" and "energy saving and reducing energy consumption".
It is the development strategy of “resource-saving and environment-friendly society”, which has significant environmental and social benefits, as well as good economic benefits
.
