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Hubei Yihua Chemical to invest RMB 1.4 bln in PVC project

September 15/2009
September,15 (China Knowledge) -- Hubei Yihua Chemical Industry Co Ltd, a chemical fertilizer producer based in Hubei Province, on Sep. 10 announced that it intends to invest RMB 1.4 billion in a polyvinyl chloride project in Wuhai, Inner Mongolia Autonomous Region through a wholly-owned local subsidiary, sources reported.

The subsidiary, in which the Shenzhen-listed firm invested RMB 500 million in June, will be in charge of the PVC project, which will have an annul output of 300,000 tons.
Reportedly, Hubei Yihua Chemical Industry in June wholly acquired an Inner Mongolia-based sulfide firm capable of producing 150,000 tons of calcium carbide, 60,000 tons of sodium hydrate and 60,000 tons of PVC a year. As part of the acquisition, Hubei Yihua Chemical Industry obtained exploration rights in seven calcium carbide mines. The mines have 60 million tons in total reserves and can produce 2.08 million tons a year.

According to a report released by Guoyuan Securities Company Ltd, Hubei Yihua Group Ltd Liability Co, the parent of Hubei Yihua Chemical Industry, intends to build facilities in Wuhai that will have an annual output of 300,000 tons of chlor alkali, 400,000 tons of PVC, two million tons of coal and 800,000 tons of calcium carbide prior to 2012.

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