Shenyang Chemical Industry’s 240 000-ton polyether polyol project was approved by the shareholders’ meeting

On the evening of September 11, Shenyang Chemical issued a shareholder meeting resolution announcement, which included a major investment project of the company in recent years: Sun Company Dongda Quanzhou Company’s new 240,000 tons/year polyether polyol project won the Shareholders reviewed and approved.

The project is planned to be constructed by Sinochem Dongda (Quanzhou) Co., Ltd., a holding subsidiary of the company's subsidiary Shandong Blue Star Dongda Co., Ltd. (hereinafter referred to as "Shandong Dongda"). The project construction location is in Hui'an County, Quanzhou City, Fujian Province Quanhui Petrochemical Industrial Park has a total investment of approximately 1.024 billion yuan, 40% of the funds are raised by Shandong Dongda itself, and 60% are loans.

Shenyang Chemical Industry stated that Shandong Dongda is a leading company in polyether polyols, and its products are mainly used in high-end fields such as automotive interiors, high-speed rail seats, track expansion joints, spinning oils, UV light curing, and electronic adhesives. The project has mature and reliable technology and is located adjacent to Quanzhou Petrochemical. Relying on Quanzhou Petrochemical's propylene oxide, ethylene oxide, styrene and major public resource services, it can improve Dongda's long-term lack of upstream supporting facilities. The company also stated that this project is an important strategic move for the company to enter the South China market and further expand overseas markets. It will make full use of Shandong Dongda's experience in production management and supporting equipment, and give full play to the synergy of technology, channels and industrial chains. The reduction in product transportation costs after the completion of the project will increase the market share of the products in East and South China, consolidate and enhance the competitiveness of the industry, further expand and strengthen the Dongda brand polyether polyol industry, and Sinochem Polyurethane in China The industry has shown great achievements in extending, repairing and strengthening the chain.