Yantai, Shandong – Huada Chemical (Yantai) is planning to finish a new PU resin project in the Economic and Technological Development Area in Yantai, Shandong by the end of 2017, according to the company’s website.
The project includes 50kT/year capacity for PU leather resin, 40kT/year for shoe sole resin, 60kT/year for polyester polyols, 50kT/year for waterborne PU resin and a new research centre. It has a total area of 96,000 m2 with CNY 540m ($79m) investment earmarked.
“The project will become a significant component of the new chemical materials industry cluster in Shandong,” said the company’s website.
Huada Chemical (Yantai) was set up in 2015 as a subsidiary of China’s first PU resin mass producer Huada Chemical Group, headquartered in the same city with 450kT/year total capacity for PU resin. The Group was affiliated to chemical giant Wanhua until spinning off as a private-sector company in 2004.
Exchange Rates: Xe.com 17 February 2017