Renxin New Materials plans to invest 3.8 billion yuan to jointly develop the Huizhou polystyrene new materials integrated project
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Renxin New Materials: Plans to jointly invest 3.8 billion yuan in building an integrated project for polyphenylene new materials; the project’s annual output value/revenue is expected to reach 7.8 billion yuan once it is fully operational. On October 28, Renxin New Materials (301395.SZ) announced that it intends to collaborate with the Petrochemical Energy Industry Bureau of Huizhou Daya Bay Economic and Technological Development Zone sowie Huizhou Renxin Technology Development Co., Ltd. to develop this integrated project for polyphenylene new materials. The total investment in the project amounts to 3.8 billion yuan, with construction taking place in two phases. Phase 1 involves investing in the production of new materials such as low-impact polybutadiene, solution-polymerized styrene-butadiene rubber, high-impact polystyrene/translucent HIPS, and polymethyl methacrylate/methacrylic acid copolymer styrene. Phase 2 entails investing in the production of tert-butanol, propylene oxide, methacrylic acid, and butyl rubber. Upon full operation of the project, the annual output value/revenue will be 7.8 billion yuan, with annual tax payments amounting to 450 million yuan.
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