company news about 60,000 Tons/Year Polyoxymethylene Project Signed

60,000 Tons/Year Polyoxymethylene Project Signed

  On April 27th, Xinye Energy and Chemical Company signed an EPC general contracting contract for a 60,000-ton/year polyoxymethylene project with China National Chemical Corporation SEding Ningbo Engineering Co., Ltd. in Ningbo.

  It is learned that the 100,000-ton/year polyoxymethylene project of Xinye Energy Chemical is an important part of the company's efforts to strengthen, extend, supplement and expand the coal-based multi-product development concept of "coal - electricity - oil - gas - chemical - material", and to build a methanol-formaldehyde-polyoxymethylene industrial chain, promoting the high-end, low-carbon and diversified development of coal chemical industry. After the entire project is completed, it will become the largest polyoxymethylene production base in the northwest region and even the whole country.

  The first phase of the 40,000-ton/year polyoxymethylene project, with a total investment of 1.3 billion yuan, started construction in April 2021 and successfully completed the full-process trial run on July 12th. This filled the gap of polyoxymethylene products in Xinjiang and set a new record for the fastest start-up of similar facilities in China. The total investment of the second-phase 60,000-ton/year polyoxymethylene project is 1.5 billion yuan. It has achieved high-value-added transformation of methanol raw materials and promoted the extension of the coal chemical industry towards diversification and high quality.

  Regarding Xinye Energy Chemical, on February 4th this year, Zhongji Health announced that it is planning to purchase 100% of the equity of Xinjiang Xinye Energy Chemical Co., Ltd. through the issuance of shares. If all goes well, Xinye Energy Chemical will quickly go public by taking over Zhongji Health!

  Polyoxymethylene is one of the five major engineering plastics and is also known as the metal among plastics, enjoying the reputation of "competing with steel" and "rivaling steel". It is widely used in multiple high-end manufacturing fields such as automobiles, mechanical manufacturing, precision instruments, and military industry, with a broad market prospect. However, domestic polyoxymethylene products are mainly mid-to-low-end, with severe homogeneity, and high-end ones still need to be imported.

At present, there are nearly 20 industrial producers of polyoxymethylene worldwide. According to statistics, the global production capacity of polyoxymethylene is approximately 2 million tons per year. Foreign polyoxymethylene production capacity includes companies such as DuPont and Celanis of the United States, BASF of Germany, Asahi Kasei and Polyplastics of Japan, etc. In 2024, China's POM production capacity will continue to grow. Among them, the production capacity put into operation within the year includes 80,000 tons of Hengli Petrochemical, 40,000 tons of Tianjin Bohai Chemical, 90,000 tons of Nantong Baoli, and 60,000 tons of Xinjiang Xinlianxin. By the end of 2024, the annual production capacity of POM in China will have exceeded 800,000 tons.

In March this year, the environmental impact assessment of two more major projects was made public. They are the 80,000-ton/year polyoxymethylene engineering plastic project of Lihua Yi (Lijin) Engineering Plastics Co., Ltd. and the 60,000-ton/year polyoxymethylene project of the second phase of Ningxia Coal Industry Co., Ltd. of National Energy Group.

From “https://www.chemnews.com.cn/“

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