Sinochem plans to invest 600,000 tons/year propylene oxide project in Quangang, Fujian

On January 16, China Chemical announced the resolution of the 28th meeting of the fourth board of directors of the company, deliberating and passing the proposal on the establishment of a project company by Tianchen Company to invest in the 600,000-ton/year propylene oxide project in Quangang, Fujian
.

The board of directors of the company authorizes the management to handle specific matters related to this foreign investment in accordance with the procedures
.
The company's wholly-owned subsidiary China Tianchen Engineering Co.
, Ltd.
("Tianchen Company") invested about 600 million yuan to jointly establish a project company with strategic investors and employee investment platforms
.
The project company is responsible for investing in the first phase of the 600,000-ton/year propylene oxide project in Quangang, Fujian.
The first phase of the project is estimated to invest about 3.
7 billion yuan.
The project mainly includes a 300,000-ton/year hydrogen peroxide method propylene oxide plant.
And supporting 2 × 450,000 tons / year hydrogen peroxide device
.

On the basis of many years of successful operation experience of industrial and new material projects, Tianchen Company relies on the self-developed green, environmentally friendly and low-cost HPPO technology to set up a project company to invest in the first phase of the propylene oxide project, which will further optimize the company's industrial and The layout of the new material sector, enriching the product structure, and improving the ability to resist risks will help the high-quality development of the regional economy and the realization of the "dual carbon" goal
.

The company adheres to its advantages, focuses on the main business, takes strategic emerging industries as the main direction, extends to the upstream and downstream of the industrial chain, strengthens the chain and complements the chain, and promotes the industrial and new material business to become a new growth point of performance
.

This investment is an important measure for the company to adhere to technological innovation and develop its industrial and new material business.
It will help the company to "accelerate to build a comprehensive solution service provider, high-end chemicals and advanced material supplier in the field of industrial engineering, and strive to build a distinctive and professional leader.
, the implementation of the development strategy of a world-class engineering company with strong core competitiveness
.