Zhongtai Chemical terminated the purchase of 300,000 tons of BDO built by Markor Chemical

On the evening of June 7, Zhongtai Chemical announced that it had decided to terminate the purchase of 75.
89% of the shares of Markor Chemical
.
Markor Chemical has a BDO industrial chain, and Zhongtai Chemical has a complete circular economy industrial chain integrating upstream and downstream of coal-thermoelectricity-chlor-alkali chemical industry-viscose fiber-viscose yarn
.

In February of this year, Zhongtai Chemical once planned to become one of the leading BDO companies through the acquisition of Markor Chemical.
According to the plan disclosed by the company at that time, the company planned to issue shares and convertible corporate bonds to purchase 75.
89% of Markor Chemical’s shares
.
On the evening of June 7, Zhongtai Chemical announced that in view of the recent changes in the capital market environment, the parties to the transaction still have differences in the transaction plan and core terms of the transaction, and failed to reach an agreement, the company decided to terminate the acquisition of 75.
89% of Markor Chemical.
Shares and raise matching funds
.

The acquisition of Markor Chemical failed.
On June 7, Zhongtai Chemical issued another announcement.
In order to seize the BDO market, its subsidiary Jinhui Technology plans to build a BDO project with an annual output of 300,000 tons.
The construction period is expected to be 27 months.
Invested 5.
116 billion yuan
.
At present, Jinhui Technology has signed a general contract for the project with Chengda Engineering, and the contract price is about 4.
284 billion yuan (tentative estimate)
.
The project scope includes 120,000 tons/year calcium carbide acetylene, 3×100,000 tons/year BDO, 3×240,000 tons/year methanol to formaldehyde, and 28,000Nm3/h natural gas hydrogen production unit
.

Previously, the project site was located in the new area of ​​Baicheng County Industrial Park, Aksu Prefecture, Xinjiang.
Jinhui Zhaofeng has built and put into operation there with an annual output of 1.
3 million tons of coking, 1.
8 million tons of coal washing, 1 million tons of cement, and 2 × 350MW self-contained power thermal power plants.
and 88,000 tons of LNG, and a 750,000-ton/year calcium carbide project is currently under construction
.
Zhongtai Chemical predicts that when the BDO project with an annual output of 300,000 tons is put into operation, the local park can form a complete resource conversion circular economy industrial chain
.