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Yuanxing Energy will acquire Yingen Mining

 Last Update: 2021-08-04
 Source: Internet
 Author: User

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sodium bicarbonate structure

phase 1 trial

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Sinochem News.
com News on July 25, Yuanxing Energy announced that according to the company's strategic development needs to focus on the main business of trona, the company intends to acquire Inner Mongolia Boyuan Yingen held by Inner Mongolia Miduo Energy Co.
, Ltd.
for 1.
112 billion yuan Mining Co.
, Ltd.
9.
5% stake
.

After the completion of the acquisition, it is planned to unilaterally increase the capital of Yingen Mining with 1.

It is understood that currently, Yingen Chemical, a wholly-owned subsidiary of Yingen Mining, plans to construct 7.
8 million tons/year soda ash and 800,000 tons/year sodium bicarbonate projects, of which the first-phase production capacity is 3.
4 million tons/year soda ash and 300,000 tons/year sodium bicarbonate.
; The second-phase production capacity is 4.
4 million tons/year of soda ash and 500,000 tons/year of baking soda
.

According to the current procedures and project construction, the first phase is expected to be completed by the end of 2022, and the second phase is expected to be completed by the end of 2025

　　Yuanxing Energy stated that Yingen Mining has large reserves of trona resources, and the soda ash and baking soda projects under construction have strong competitive advantages and good development prospects
.

The company's capital increase in Yingen Mining this time has solved the problem of funding for some of the project's construction of Yingen Mining, which is conducive to the promotion of project construction and the long-term development of the company's main business of trona

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