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On September 22, the project to produce 450,000 tons of biodegradable new materials per year, undertaken by Hengli Petrochemical Co., Ltd., commenced in Dalian, Liaoning Province. With a total investment of 1.8 billion yuan, the project is located within the Hengli (Dalian Changxing Island) Industrial Park. Utilizing self-developed processing technologies and formulations, and leveraging the raw material and supporting infrastructure available in the park, the project involves the construction of two main facilities: one capable of producing 150,000 tons/year of PBS-based biodegradable plastics, and another capable of producing 300,000 tons/year of PBAT biodegradable plastics. The project is scheduled to be completed and put into operation in 2022, and at that time it will become the largest and most productive base for biodegradable new materials in the country. Currently, PBS and PBAT are fully biodegradable materials and among the most widely used types of biodegradable plastics. In natural soil environments, they can be degraded into compounds such as carbon dioxide and water through the action of microorganisms. They are environment-friendly polyester materials that are widely used in food packaging, tableware, medical applications, agricultural films, injection molding, and foam materials. As early as the end of last year, the Hengli project for producing 33,000 tons per year of PBS-based biodegradable polyester materials was successfully commissioned in just one attempt.
It got launched right away, but our company has been trying to launch it for years without success. Is it an efficiency issue? Is it still a problem with the institutional mechanisms? Or something else?