Zibo, Shandong – China’s Zibo Qixiang Tengda Chemical has signed technology purchase agreements with Evonik and ThyssenKrupp Industrial Solutions for its HPPO propylene oxide project.
The technology will enable a 300kT/year PO project, with joint investment from South Korea’s SKC. The joint venture is yet to be formed, the company told UTECH-polyurethane.com.
Under the agreements, Qixiang Tengda will have a permanent licence for its PO project to use the HPPO technology.
It will also have a permanent licence for its 205kT/year hydrogen peroxide feedstock facility to use Evonik’s anthraquinone oxidation technology.
Both agreements prohibit Evonik and ThyssenKrupp from licensing the technologies to third parties in Shandong province, where Qixiang Tengda is based. The agreement lasts for five years.
Transaction prices have not been disclosed.
Qixiang Tengda specialises in petrochemicals processing. Last year, it posted a 26% rise in revenue to CNY 28bn ($4bn). Net profit dropped 1% to CNY 843m.