On January 25, 2022, Donghua Energy announced that it plans to establish a joint venture with Industrial Control New Materials Investment (Maoming) Co.
In order to promote the smooth implementation of the company's Maoming acrylonitrile project, give full play to the advantages of both parties, and accelerate the company's transformation into a manufacturer of polymer composite materials and synthetic materials, after the deliberation of the board of directors: it is agreed that the company and Guangzhou Industrial Investment Holding Group Co.
Project overview: The construction period of the Maoming acrylonitrile industry chain project is about 2 years, including but not limited to the following: investing in the construction of a 260,000-ton/year acrylonitrile plant, a 600,000-ton/year ABS plant and supporting equipment, Public works and auxiliary facilities are expected to have a total investment of about 6.
Project construction: Both parties negotiated and agreed that the project should start construction before June 30, 2022, and strive to be completed and put into production before December 31, 2024
The follow-up cooperation plan between the two parties: In the later stage, the two parties will rely on the auto parts industry and urban rail transit industry of Guangzhou Industrial Control, the controlling shareholder of Industrial Control New Materials, to launch the cooperation in the industrial chain of acrylonitrile-polyacrylonitrile-carbon fiber-automotive lightweight new materials; at the same time, The two parties are actively promoting the establishment of the Automotive Lightweight Research Institute to promote the research and development and industrial incubation of automotive lightweight materials