Hunan Yu New Energy Technology plans to invest in the construction of a project to produce 120,000 tons per year of 1,4-butanediol

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Hunan Yu New Energy Technology plans to invest in the construction of a project to produce 120,000 tons of 1,4-butanediol per year. Author/Source: Coal-based New Materials. Date: April 28, 2021. Clicks: 3. On April 24, Hunan Yu New Energy Technology Co., Ltd. issued a announcement regarding its holding subsidiary’s plan to invest in the construction of such a production facility. Hunan Yuxin New Energy Technology Co., Ltd. (hereinafter referred to as “Yuxin Shares”) intends to invest in the construction of a project capable of producing 120,000 tons per year of 1,4-butanediol (BDO) through its holding subsidiary, Huizhou Yuxin New Materials Co., Ltd. On April 22, 2021, the 17th meeting of the second board of directors was held, during which the resolution regarding the subsidiary’s plan to invest in this 120,000-ton-per-year BDO production project was approved. Basic information on the project: 1. Project name: Project for annual production of 120,000 tons of 1,4-butanediol. 2. Location of the project: Daya Bay Petrochemical Industrial Zone, Huizhou City. 3. Estimated investment and source of funds: The total planned investment for the project is 574.71 million yuan, of which 537.15 million yuan is allocated to construction costs, 10.49 million yuan to interest during the construction period, and 27.07 million yuan to working capital. The project funding comes from 30% corporate own funds and 70% bank loans. 4. Project construction content and scale: The project involves the construction of a facility capable of producing 120,000 tons per year of 1,4-butanediol. 5. Project construction period: The construction period for this project is 24 months. Construction is scheduled to begin in September 2021, with completion and operation expected by August 2023.