The total investment is 6 billion! Dongfang Shenghong plans to build propylene oxide/styrene, polyether polyol and other projects

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On the evening of May 14, Dongfang Shenghong announced that its third-tier subsidiary Jiangsu Hongwei Chemical Co., Ltd. ("Hongwei Chemical") will invest 6.034 billion yuan in the construction of POSM and polyol projects. The estimated total investment of this project is RMB, and the construction period is 3 years.

Basic situation of investment projects

1. Project name: Jiangsu Hongwei Chemical Co., Ltd. POSM and polyol project.

2. Implementation location: Shenghong Chemical New Materials Project, Chemical Industry Park, Xuwei New District, Lianyungang City, Jiangsu Province, covers a total area of ​​about 22.39 hectares.

3. Construction content and scale: The scope of the project includes ethylbenzene (EB), propylene oxide/styrene (POSM), polyether polyol (PPG) and polymer polyol ( POP) and other process equipment, supporting public works and production auxiliary facilities.

1) Scale of ethylbenzene plant: 508,000 tons/year

2) POSM plant scale: 20/450,000 tons/year,

3) PPG plant scale: 112,500 tons/year,

4) POP plant scale: 25,000 tons/year.

4. Investment Amount: The estimated total investment of the project is 6.034 billion yuan, of which construction investment is 5.262 billion yuan, interest during the construction period is 265 million yuan, and working capital is 507 million yuan.

5. Source of funding: The project is funded from self-raised funds.

6. Project progress: The estimated construction period of this project is 3 years, and it is still in the preliminary approval stage.

Dongfang Shenghong stated that the project is in line with its industrial integration development strategy. After the project is completed, it will be based on Shenghong Refining’s rich experience in chemical products and production management, with the help of the world’s leading POSM and polyether technology, fully Give full play to the large-scale and integrated platform of the refining and chemical industry chain, further enrich the structure of refining and chemical products, increase the added value of products, and enhance the comprehensive competitiveness of Dongfang Shenghong.