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[Industry Focus]：The total budget is 2.328 billion yuan, and the 100000-ton BDO and 120000-ton PBAT projects in Anhui have been successfully fed.

Read： 160 Time：7days ago Source：BDO Research Institute

1. Project Overview

on December 27, the annual output of 120000 tons of biodegradable new materials project in the product structure adjustment integration project of Huasu Co., Ltd., which was contracted by China Chemical Donghua Company, ushered in an important milestone. The project was successfully fed in one time according to the plan, and successfully produced qualified PBAT products, marking that the project has achieved a phased victory and officially entered a new stage of high-speed advancement. The project is located in Dingyuan Salinization Industrial Park, Anhui Province, covering an area of 392 mu. The overall construction scale includes 160000 tons/year formaldehyde, 100000 tons/year BDO(1,4-butanediol) and 120000 tons/year PBAT (polyethylene terephthalate-co-polybutylene terephthalate).

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2. project background and environmental significance

the project uses calcium carbide as raw material to prepare acetylene through the expansion and transformation of the old plant acetylene plant, and at the same time outsources methanol and hydrogen to produce BDO and PBAT products. After the project is put into production, it will greatly enrich the types of degradable plastic products on the market, meet the growing demand for environmental protection, promote the green transformation of the plastics industry, and make important contributions to environmental protection.

Technical characteristics of 3. process

in terms of process technology, the project shows a high degree of professionalism and advancement. Formaldehyde plant adopts Zhuangxin Wanfeng's iron-molybdenum methanol-to-formaldehyde process, which is mature and safe. BDO plant adopts the improved acetylene aldehyde production process of Hong Kong Guanda, which has the characteristics of strong production continuity, low unit consumption and stable product quality. PBAT device adopts the one-step production process of Shanghai Juyou, which also has the advantages of mature process and stable product quality.

4. Huasu shares of their own advantages

huasu shares into the BDO-PBAT project has a significant advantage. First of all, the raw materials acetylene and part of hydrogen used in the project can come from the company itself, which can not only effectively reduce production costs, but also ensure the stability of raw material supply, thereby enhancing the market competitiveness of products. Secondly, Huasu Co., Ltd. is located in East China, and its product sales have geographical advantages. Compared with the northwest region, the transportation cost per ton can save more than 800 yuan, which makes the company have greater flexibility and competitiveness in product pricing and market coverage.

5. Project Investment Construction Progress and Fund Raising

in response to the investment and construction progress of the project with an annual output of 120000 tons of biodegradable materials, Huasu Co., Ltd. made a detailed response in the reply disclosed on December 31. The overall construction period of the project is expected to be 24 months. Construction will start in December 2022. It is currently in the preparation stage of trial production. It is planned to complete the trial run in the first half of 2025 and transfer the whole project to solid at one time. The total budget of the project is 2.328 billion yuan, and the financing arrangement is reasonable, which ensures the smooth progress of the project.

6. economic benefit prediction

according to the feasibility study report issued by Donghua Engineering Technology Co., Ltd. in November 2021, the production period of the project is expected to achieve an average annual sales income of 2.66 billion yuan excluding tax, an average annual after-tax profit of 0.258 billion yuan, and an after-tax internal rate of return of the project. It is 14.44, showing strong profitability and good economic benefits. The main product of the project is PBAT, and the by-products include THF, butanol, BDO, BDO recombinant fraction, etc. The operation period of the project is 15 years, and the production load is expected to be 80% in the first year, 90% in the second year, and 100% in the third year. After 100 per cent delivery, the sales revenue, excluding tax, will reach $2242.9381 million.

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Source: BDO Research Institute

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