[Haichuan Project Information] Satellite Chemical subsidiary plans to invest 1.1 billion to build a purified acrylic acid project with an annual output of 200,000 tons in Pinghu, Zhejiang
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Satellite Chemical announced on May 30 that the company's wholly-owned subsidiary Pinghu Petrochemical signed a "Project Investment Agreement" with the Zhejiang Dushang Port Economic Development Zone Management Committee in Pinghu City, Zhejiang Province on May 28, 2022. The total investment of the project is about 1.1 billion yuan, and it is mainly building a purified acrylic acid project with an annual output of 200,000 tons. The project is planned to be prepared for construction in 2022 and completed and put into production in 2024.
As one of the top five acrylic acid industry leaders in the world and the largest in China, Satellite Chemical has formed a full acrylic acid industry chain layout and has the advantage of integrating upstream and downstream linkages. The construction of a 200,000-ton purified acrylic acid project per year is the promotion and application of the company's self-developed green and low-carbon process technology. It is one of the "million-ton projects" in the company's second "Five-Year Plan". While enriching the acrylic acid and ester series product system, it further enhances the company's scale advantage and market competitiveness. At the same time, the satellite itself is equipped with a pure acrylic downstream SAP (super absorbent resin) device. SAP is widely used in personal hygiene care products including infant diapers, adult diapers and feminine hygiene products, pet hygiene care products, agriculture and forestry moisturizing and other fields. With the introduction of the three-child policy, the aging of the population and the rapid development of the pet economy, the demand for SAP continues to grow, creating a huge potential market. The company's SAP products have been highly recognized by mainstream sanitary product manufacturers at home and abroad, and have developed steadily in the global market.