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Feasibility Study Review for Huyang Group’s New Projects Author/Source: Huahua Network Coal Chemicals Date: October 20, 2021 Clicks: 13 On October 18, Huyang New Materials Group Company held a meeting to review the feasibility studies for the first phase of its project, which involves 100,000 tons per year of PBAT production, as well as a 300,000 tons per year BDO production project. Experts and scholars were invited to assess the technical, economic, and construction feasibility of these projects, and the feasibility studies were approved. Currently, white pollution is a common problem faced worldwide. Among them, the environmental hazards caused by plastic waste have drawn widespread attention from society, and the Ministry of Ecology and Environment has listed the control of \"white pollution\" as one of its key tasks. Developing biodegradable materials is an effective way to address white pollution and initiate a low-carbon economy. With the sharp increase in demand for biodegradable plastics, BDO, as one of the main raw materials for PBAT, holds promising market prospects. This project is in line with Huayang Group’s development strategy. It makes full use of the group’s resource advantages, employs advanced, mature, and reliable manufacturing technologies. The products have a broad market potential and bring good economic benefits. It represents a concrete measure taken by the group to \"extend, supplement, and strengthen its industrial chains,\" helping to achieve complementary strengths, increase product diversity, and enhance the ability to cope with market risks. At the review meeting, an expert panel composed of professionals from BDO, the biodegradable plastics industry, as well as fields related to environmental protection, economics, and safety, conducted thorough discussions via video link on aspects such as the project’s technical processes, safety and environmental considerations, as well as investment and economic benefits, thereby forming their evaluation opinions. The expert group believes that the content of the project feasibility study report is detailed and the analysis is objective; it complies with relevant regulations and requirements of ** and the industry. Therefore, the expert group agrees to approve it. The meeting noted that pursuing this project is a concrete manifestation of implementing the spirit of ****’s important speech during his inspection in Yulin, Shaanxi. It is necessary to raise the political awareness, clarify the goals and tasks, coordinate efforts closely, work together to resolve issues, expedite the relevant procedures, and ensure that the project is ready for commencement as soon as possible. Fully consider expert opinions, improve the project plan as soon as possible, make good use of the platform provided by the listed company, and go all out in terms of energy-saving technological upgrades. Adhere to rational principles to ensure the advancement of indicators, processes, and equipment. With the confidence and determination to achieve success, stay focused on the goals and strive to become the largest and most leading enterprise in the world-class biodegradable materials industry in the country. In September 2020, Yuanyang Coal Group was restructured and renamed as Huayang New Materials Technology Group. Huayang New Materials Technology Group signed a memorandum of cooperation with the Department of Chemical Engineering at Tsinghua University regarding the research, development, and industrialization of high-performance bio-based polyesters and nylons. Leveraging the research and development strengths and technical expertise of the Department of Chemical Engineering at Tsinghua University in the field of bio-based chemicals and materials, and taking into account Huayang New Materials’ needs for industrial transformation as well as Shanxi Province’s efforts to develop new materials, joint innovative research will be carried out in areas such as theory, technology, and policy, with the aim of promoting the industrialization of new bio-based material technologies in Shanxi. During the 14th Five-Year Plan period, Huayang Group planned to establish a production and post-processing facility for biodegradable plastics with an annual capacity of 500,000 tons. Yangmei Chemical currently has a production capacity of 200,000 tons per year for 1,4-butanediol and 200,000 tons per year for adipic acid. Leveraging Yangmei Chemical’s existing industrial advantages, a PBAT production facility with an annual capacity of 500,000 tons will be built in phases. The first phase will involve a facility with an annual capacity of 200,000 tons for the processing of raw materials as well as plastic bags and mulch films, while the second phase will have an annual capacity of 300,000 tons.