Dezhou, Shandong – Polyol maker Shandong Hualu-Hengsheng Chemical is operating ne 500kT/year ethylene glycol (EG) facilities.
The company trialled the facilities, which use its technology, in October and has started its operation. The company claims it is the first time that a large-scale EG plant is using Chinese EG technology.
Located at the company’s existing site at Dezhou Canal Economic Development Zone, the project broke ground in 2016 with CNY 2.7bn ($390 m) investment. It is now running at 70% capacity utilisation. Plant occupancy will be increased gradually, said Hualu-Hengsheng’s announcement.
According to the company’s website
‘[The project] is in line with the company’s diversification strategy and will further improve its core competitiveness,’ said the announcement.
Over the first half of 2018 Hualu-Hengsheng sold 120kT polyols, 100kT adipic acid and 310kT acetic acid. Sales for these products were CNY 1bn, CNY 1.3bn and CNY 808m respectively.
The firm’s overall revenue during the period rose by 48% year on year to CNY 7bn; net profit jumped 208% to CNY 1.7bn.