At a cost of 1.576 billion, Juhua will build a 150,000-ton PTT and 72,000-ton PDO project

Latest News: On July 29, 2022, the Board of Directors of Zhejiang Juhua Co., Ltd. issued the “Announcement on Fixed Asset Investment Projects of Zhejiang Juhua Co., Ltd.”. The announcement disclosed that the company plans to build 15
10,000 tons/year special polyester chip new material project.

Project Overview

Project name: 150,000 tons/year special polyester chip new material project

Project subject: Ningbo Juhua Chemical Technology Co., Ltd. (a wholly-owned subsidiary of Zhejiang Juhua Co., Ltd.)

General layout: The total land area of ​​this project is about 50 mu. The device is planned to be built in the open space of the South Plant of Ninghua Company, and no new land needs to be acquired.

Project investment: The total investment of this project is 1,576,230,700 yuan, of which: construction investment is 1,476,607,100 yuan, and the construction period interest is 5,763.38 yuan
10,000 yuan, with a working capital of 41.9869 million yuan.

Project content: This project plans to introduce international mature technology to produce 1,3-propanediol (PDO) with ethylene oxide as raw material.
Then, using purified terephthalic acid (PTA) and PDO as raw materials, through esterification and polycondensation reaction, PTT (polytrimethylene terephthalate) is formed.
The implementation of this project includes the main plant of 72,000 tons/year PDO and 150,000 tons/year PTT and its supporting projects.

Product plan: 150,000 tons/year PTT; 72,000 tons/year PDO (including: commodity volume 10,500 tons/year, intermediate products 61,500 tons/year).

Estimated economic benefits: It is estimated that after the normal operation of the project, the average annual sales income will be 2,130.91 million yuan, the average annual total profit will be 397.95 million yuan, and the average annual net profit will be 298.46 million yuan.

Project construction plan: The project is planned to be completed by the end of October 2024, and the test run will be completed by the end of 2024.

This project has been reviewed and approved at the 20th meeting of the eighth board of directors of the company, and does not need to be reviewed by the company’s general meeting of shareholders. As of the date of this announcement, the project has completed the government filing (project filing number [2202-330257-04-01-651782]) and the energy saving review approval (Yong Energy Approval [2022] No. 81).