1.2 million tons/year propylene whole industry chain project announced!

On July 1, Kingfa Technology (60014SH) announced that the Ningbo Economic and Technological Development Zone Management Committee and the company's subsidiary Ningbo Kingfa signed the "Ningbo Kingfa New Materials .

Ningbo Kingfa intends to carry out the construction of new projects on the basis of the original production scale, mainly to replace the imported medium and high-end polypropylene market, aiming at the medium and high-end modified plastic new material industry, adopting international and domestic advanced production technology, and building a new "2 million ton/year polypropylene thermoplastic elastomer (PTPE) and modified new material integration project”

The project includes: 2 million tons/year of propane dehydrogenation, 2 million tons/year of mid-to-high-end polypropylene and 400,000 tons/year of modified polypropylene combined production lin.

On the basis of equality, mutual benefit and friendly consultation, the two parties have reached an agreement on project investment as follows:

The total investment of the new project is estimated to be RMB 15 billion, which will be constructed in two phases:

The first phase mainly builds 600,000 tons/year propane dehydrogenation, 800,000 tons/year polypropylene, 400,000 tons/year modified polypropylene new material production lines and supporting public works; and transfers some production-oriented service industries of Kingfa Technology to A Fang Jurisdicti.

The second phase mainly builds 600,000 tons/year of propane dehydrogenation and 400,000 tons/year of polypropyle.

Project investment plan 

1) Investment quota

The project plans to invest about 6 billion yuan in the first phase, and about 5 billion yuan in the second pha.

2) Implementation plan

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3) Project compliance

The land use of the project is implemented in accordance with the specified indicators of "Zhejiang Province Industrial Construction Project Land Use Control" to meet the requirements of investment intensi.

4) Resource integration

Actively carry out the development of circular economy in the park, actively connect with enterprises in the park, and supply each other with material management and transportation, and strive to reduce regional transportation ris.

Kingfa Technology completed the acquisition of Ningbo Haiyue New Materials .