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Sinochem New Net News Merrill New Materials Co.
, Ltd.
issued an announcement on June 17 that in order to further promote the layout of the new polyurethane material industry chain, the company plans to invest in the construction of a "Polyurethane New Material Industrial Park
.
"
The total investment of the project is about 3.
5 billion yuan.
It will focus on the production of new polyurethane materials, develop upstream and downstream, and finally form a new polyurethane material production base for the entire industry chain
.
The announcement stated that in order to promote the construction of the project, Meirui New Materials intends to sign a strategic cooperation agreement with Henan Energy Chemical Group Co.
, Ltd.
for in-depth project cooperation, and its subsidiary Henan Energy Chemical Group Hebi Coal Chemical Co.
, Ltd.
, the core management of the project and Qingdao Ruihua Investment Partnership (Limited Partnership), a shareholding platform established by technical personnel, jointly invested and established Meirui Technology Co.
, Ltd.
as the project operating company
.
The first phase of registered capital of Meirui Technology is RMB 500 million, of which the company contributed 275 million yuan in cash, with a shareholding ratio of 55%; Hebi Coal Chemical contributed 75 million yuan in cash, with a shareholding ratio of 15%; Ruihua contributed 1.
The first phase of the project plans to build 100,000 tons of special thermoplastic polyurethane elastomers and upstream and downstream products.
Meirui New Materials stated that by investing in the construction of a new polyurethane material industrial park project, the company will extend to the upstream of the polyurethane industry chain.