Yankuang Energy (600188.SH) plans to invest 9.574 billion yuan in a project with an annual output of 800,000 tons of olefins

Zhitongcaijing · 10/25 14:17

Zhitong Finance App News, Yankuang Energy (600188.SH) announced that the company plans to invest in Inner Mongolia Rongxin Chemical Co., Ltd. (“Rongxin Chemical”) with an annual output of 800,000 tons of olefins. The project uses methanol as a raw material to produce polymeric grade ethylene and propylene, and then polymerize to produce high-density polyethylene and polypropylene, while also producing mixed C4, C5+, propane and other products; the main products are 400,000 tons/year of high-density polyethylene and 400,000 tons/year polypropylene. The planned investment amount of the project is RMB 9.574 billion, and the payback period (including 36 months of construction) is 9.68 years.

According to reports, high-end chemicals are one of the company's main businesses. Rongxin Chemical is an important coal chemical industrial park located at the company's base in Shaanxi and Mongolia. It currently has an annual production capacity of 2.2 million tons of methanol, ethylene glycol and other by-products. The company relies on Rongxin Chemical's existing industrial base to develop a high-end polyolefin industry chain, build a demonstration base for new coal-based chemical materials, improve the company's development layout, and enhance product added value and market competitiveness.