Xinhu Chemical’s 500,000-ton PVC circular economy project inaugurated in Inner Mongolia

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Foundation-laying ceremony for Xinhu Chemical’s 500,000-ton PVC circular economy project. Release date: October 19, 2010. Location: Inner Mongolia. Industry: Chemicals and pharmaceuticals. Progress stage: Construction has begun. Summary: Project requirements: On the morning of October 16, the Heliuzi Industrial Park in Wulat Qianqi was filled with colorful flags and loud music as a grand foundation-laying ceremony was held for Xinhu Chemical Co., Ltd. of Inner Mongolia’s 500,000-ton annual PVC circular economy project, which involves an investment of 12 billion yuan. 　　On August 26 of this year, Xinhu Group signed a cooperation agreement with our city. It plans to invest 12 billion yuan in the first phase, focusing on coal chemistry and salt chemistry, and will utilize the most advanced process technologies and equipment in this field to build a large-scale circular economy project with an annual production capacity of 500,000 tons of PVC. The associated projects include those with annual capacities of 1 million tons of calcium carbide, 1 million tons of lime, 1 million tons of semi-coke, 400,000 tons of caustic soda, and 1.5 million tons of cement. Once the project is completed and put into operation, it will add 7 billion yuan to the local industrial output value, generate 1.2 billion yuan in tax revenue, and create 4,500 jobs. 　　Inner Mongolia Xinhu Chemical Co., Ltd. is a holding subsidiary of Zhejiang Xinhu Group Co., Ltd. Zhejiang Xinhu Group Co., Ltd. is a large enterprise group whose core businesses include finance, real estate, mining, automobile manufacturing, and processing; it has been listed among China’s top 100 private enterprises for many consecutive years. The company has total assets of 45 billion yuan and net assets of 10 billion yuan. It has investment projects in 24 provinces across the country, and owns two listed companies, Xinhu Zhongbao and Hagaoke, as well as the large securities firm Xiang Caizhengquan Co., Ltd. He Yonglin, Deputy Secretary of the Municipal Party Committee and Acting Mayor, delivered a speech on behalf of the Municipal Party Committee and the municipal authorities at the foundation-laying ceremony. He said that the construction of Xinhu Chemical’s 500,000-ton PVC circular economy project marks a milestone in the development of the chemical industry in Bayannur. It signifies the emergence of a new strategic support industry, which not only provides broader prospects for the development of Xinhu Group but will also play a significant role in strengthening the city’s chemical industry, promoting industrial upgrading, improving the efficiency of resource utilization, and advancing the development of a circular economy. The governments at the Bayannur city and Qianqi county levels, along with relevant departments, will go all out to support the construction of this project, do their best to optimize the development environment, provide high-quality services wholeheartedly, and strive to resolve the difficulties and issues encountered in project construction and enterprise development, so as to facilitate the early completion and operation of the project. It is hoped that New Lake Group will adhere to the principles of a high starting point, high standards, and high quality, leverage its strong financial and technical capabilities as well as its extensive experience in management, to advance project construction efficiently and with high quality, striving to create a circular economy demonstration project characterized by high levels of technological advancement, a comprehensive industrial chain, and good economic benefits.