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New giant petrochemical complex to be built in China

June 17/2010

(ChinaKnowledge) -- Hubei Yihua Group, the parent of Hubei Yihua Chemical Industry Co Ltd., plans to invest more than RMB 30 billion to build an economic and industrial park in Xinjiang Uygur Autonomous Region from 2011 to 2015, in line with the government's 12th five-year plan.


Jiang Yuanhua, board chairman of Hubei Yihua Group, said that the entire park will have an annual output of 1.2 million kilowatts of electricity, 1.2 million tons of synthesis ammonia, 2 million tons of carbamide, 1.8 million tons of calcium carbide, 1 million tons of caustic soda, 1.2 million tons of polyvinyl chloride or PVC and 2 million tons of blue carbon.


Reportedly, Hubei Yihua Chemical Industry intends to start a 300,000-ton PVC project in Qinghai Province, and the project, which will cost RMB 1.62 billion, will reap estimated operating revenue of RMB 2.29 billion and gross profits of RMB 640 million.


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