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Total investment of 13.6 billion! Yushe County to Build New Coal Chemicals Project Author/Source: Coal Chemicals 114 Forum Date: 10-27-2019 Clicks: 84 On the morning of October 23, 2019, a signing ceremony for the coal-based new materials and fine chemicals integrated production project carried out by Yushe County ** and Shandong Hongda Biotechnology Co., Ltd. was held in the conference room on the second floor of Yushe County **, marking the official establishment of this project in Yushe County. It is reported that the total investment for the projects under contract amounts to 13.6 billion yuan, with construction carried out in three phases. The first phase of the project covers an area of 930 mu, with fixed asset investments amounting to 5.8 billion yuan; it is aimed at producing 839,000 tons per year of basic chemicals such as acetic acid and methyl formamide, as well as fine chemical products ； The second-phase project covers an area of 385 mu, with fixed asset investments amounting to 2.8 billion yuan; it is primarily aimed at producing 300,000 tons per year of food additives and pharmaceutical intermediates ； The third-phase project covers an area of 600 mu, with fixed asset investments of 5 billion yuan, and is primarily aimed at producing 160,000 tons per year of new materials such as polyglycolic acid and polylactic acid. Once the project is fully operational, it will be able to generate annual sales revenue of over 8 billion yuan, with total annual profits and taxes amounting to around 3 billion yuan, while creating more than 3,000 job opportunities.