A ground breaking ceremony for the Changzhou Xinri Chemicals Company was held in Xinbei Industrial Park recently.
It is reported to be regarded as a major step in China's strategy of chemical industry development with priorities based on environment protection.
The Changzhou Xinri Chemicals Company is wholly owned by the Macau Xinyang Group, which is a manufacturer of unsaturated polyester resin. It covers a land area of 266,000 square meters, with a registered capital of USD49.98 million and a total investment of USD99.98 million. The completion of the phase I project will lead to a yearly capacity of 250,000 tons of styrene, 100,000 tons of phthalic anhydride, 100,000 tons of hydro-refining crude benzol, and 60,000 tons of unsaturated polyester resin.
Changzhou Xinri Chemicals will introduce the concept of a circular economy in its project construction. Since some of the projects use exothermic reactions and some are endothermic, the equivalent of 200,000 tons of standard coal can be saved through internal heat conversion. This will reduce to a large degree the environmental pressure along the river and create an economic value of about CNY150 million.
Changzhou Xinri Chemicals and its associates will strengthen construction of the industrial chain. Starting from the production of hydro-refining crude benzol — benzol produced in the process can be used to produce styrene, maleic anhydride and fumaric acid. These, together with phthalic anhydride, can be used to produce unsaturated polyester resin; maleic anhydride and fumaric acid can also be used to produce biochemical products, such as aspartic acid.