On September 21st, Daqing Cedar Petrochemical Co., Ltd. started construction of a 120,000 tons/year EPS (expandable polystyrene board) project, which is expected to be completed and put into operation in July 2012.
It is understood that the project has a total investment of 400 million yuan and plans to invest 120 million yuan this year. Of which 195 million yuan in fixed assets. Located in the Dawei High-tech Zone Hongwei Park, it mainly relies on ethylene as its basic raw material. The products will cover Northeast China, Inner Mongolia, Russia, Mongolia and other Northeast Asian regions.
The project was invested by Daqing Cedar Company, a subsidiary of Wuxi Xingda Foam New Material Co., Ltd. Wuxi Xingda Foam New Material Co., Ltd. is a leading company specializing in the production of EPS in China, with an annual production capacity of 1.15 million tons, accounting for about 40% of the country, and it has the largest EPS production base with the largest monomer production capacity in the world.
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