Wanhua chemical layout south-east expansion of MDI, TDI production capacity.

Wanhua Chemical recently announced that on March 2, Wanhua Chemical and Fujian Petrochemical Group Co., Ltd. signed a joint venture agreement to establish Wanhua Chemical (Fujian) Co., Ltd. in accordance with the 80%:20% shareholding ratio. Wanhua Fujian's initial registered capital was 3 billion yuan, Wanhua Chemical's cash contribution amounted to 2.4 billion yuan, accounting for 80% of the registered capital, and Fujian Petrochemical's capital contribution amounted to 600 million yuan, accounting for 20% of the registered capital.the
joint venture, which is 64% owned by Fujian Cornell Polyurethane Co., Ltd. at zero price, will build 400,000 tons/year MDI and aniline supporting projects, and the joint venture will expand TDI production capacity to 250,000 tons/year, build 400,000 tons/year PVC project and build large-scale coal gasification project .
addition, Wanhua Chemical will acquire a 49% stake in Fujian Southeastern Electric Co., Ltd., mainly engaged in chlor-alkali and thermoelectrelectrelectrvantry, providing raw materials and utility support for MDI and TDI projects. The purchase price is based on the assessed value. After Wanhua Chemical acquires Southeast Electric, Southeast Electric will expand its alkali production capacity from the current 120,000 tons/year and the 300,000 tons/year under construction to 600,000 tons/year. The overall planning of the southeastern electrochlor-alkali and thermoelectrelectrelectrvane projects is led by Wanhua Fujian Joint Venture.
Wanhua Chemical said the investment will realize the layout of Wanhua Chemical's production base in southeastern China, enhance Wanhua Chemical's competitiveness in the MDI and TDI industries, and enhance the market position of the polyurethane industry.
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