December 28, 2017 Tongkun shares announcement that 'Jiaxing Petrochemical annual output of 2 million tons PTA Project' (Jiaxing Petrochemical PTA two projects), with the joint efforts of all staff, through the pre-installation, commissioning, The project uses advanced technology to build a plant with an annual output of 2 million tons of PTA and can further improve the comprehensive utilization rate of resources after reaching the end of production , Reduce energy consumption, protect the company's raw material supply.
Project approval
On August 3, 2011, the Company held the 3rd meeting of the 5th Board of Directors and passed the "Proposal on Starting Phase II of Jiaxing Petrochemical Project".
On August 23, 2011, the Company held the 3rd special Shareholders' Meeting of 2011 and passed the above proposal.
On August 26, 2013, the Company held the 16th meeting of the Fifth Board of Directors, which reviewed and approved Proposal on Adjusting Jiaxing Petrochemical Phase II Project.
On October 30, 2013, the Company held the 4th special EGM in 2013, which reviewed and approved the above proposal.
In the pre-project demonstration, the design process, due to PTA manufacturing process technology advances, coupled with changes in the PTA market at home and abroad, in order to improve product competitiveness, project management team in the case of a total investment of the same, optimize the production Process route, a substantial reduction in the unit of fixed-investment products, energy consumption, material consumption, pollutant emission levels, so that the design capacity increased significantly, from an annual output of 1.2 million tons to 2 million tons.On August 5, 2016, Jiaxing Petrochemical Phase 2 PTA project obtained Notice of Record for Enterprise Investment Project of Jiaxing Port Area (with an annual output of 2 million tons of PTA project) (Jia'gang District '2016'71).
Project basic situation
'Jiaxing Petrochemical annual output of 2 million tons of PTA project' is the company to further optimize the industrial structure, to ensure a stable supply of raw materials to further reduce the cost of the main business, consolidate the company's competitive advantages of polyester filament products and enhance the company's overall strength and core competitiveness A major move.
The project adopts INVISTA P8 process technology and introduces advanced equipment such as compressors and mixers imported from the world and grafting technology with domestic equipment to build PTA production line with world advanced technology.
Project construction
During the construction of the project, the Company fulfilled the examination and approval formalities in strict accordance with the requirements of the relevant departments and obtained corresponding certificates. During the entire project construction, there was no violation of regulations and illegal activities.
Capital investment
The total planned investment of the project is 3.04 billion yuan. As of the end of November 2017, the actual total investment has reached 2.86 billion yuan, all of which are self-raised funds of the Company.
Project impact on the company
The completion of the above projects will help further optimize the industrial structure of the Company and ensure the supply of the Company's main raw materials. The self-sufficiency rate of PTA, the main raw material of the Company, will be raised from about 65% before the start of the project to 100%.
Follow-up
The Company will make full use of its core competitive advantages in cost control, technology research and development and project management to rapidly enhance the core competitiveness of PTA projects and achieve green manufacturing.