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Hubei Yihua plans to invest 1.6 billion in calcium carbide PVC 00:00, July 3, 2010, click: second

Securities Times reporter Zhang Jia
On June 11, the board of directors of Hubei Yihua (000422) deliberated and approved the proposal to invest in the construction of an annual output of 300000 tons of polyvinyl chloride (PVC) project, which was invested and constructed by Qinghai Yihua Chemical Co., Ltd., a holding subsidiary of Hubei Yihua. The total investment of the project is 1.615 billion yuan and the construction period is one year. After the completion of the project, the annual average operating income can reach 2.286 billion yuan, and the average annual total profit is 640 million yuan.
According to the announcement, the construction of 300000 tons of PVC project can make use of the rich coal and electricity advantages, limestone resources and rich salt resources in Qinghai to provide relatively low-cost raw materials calcium carbide and industrial salt for the project, and produce high-quality ion-exchange membrane caustic soda and chlorine hydrogen by using advanced ion-exchange membrane caustic soda process. At the same time, solid alkali (flake caustic soda) and chlorine hydrogen can be used for downstream PVC users, forming a relatively complete industrial chain. Hubei Yihua said that the construction of the project can improve and expand the technical level and scale efficiency of the enterprise, and further strengthen the competitiveness of the product market. The capital of the project is planned to be solved by self owned funds and bank loans.
Hubei Yihua pointed out that there are many favorable conditions for the construction of the project, including mature and reliable process technology, low purchase price of raw materials, low transportation cost, large-scale construction of product scheme, strong competitiveness, superior transportation conditions around the plant site and sufficient water, electricity and steam supply.
Hubei Yihua believes that the economic benefits of the project are remarkable and will become a new profit growth point of the company. All the calcium carbide produced by Yihua Institute of Qinghai Province is used for the newly built 300000 ton PVC plant in Yihua, Hubei Province, and there is no market problem. According to reports, the construction of the project conforms to the national chlor alkali industry access industry policy and the relevant national policies for the transfer of high energy consumption industries. According to the announcement, most of the equipment of the project can be manufactured in China, and there is no exhaust emission under normal production conditions. In terms of the construction of new PVC production projects in Hubei Province, it is not certain that the construction projects with 300000 tons of PVC in Hubei Province will be invested.
The announcement also showed that in recent years, the international oil price has soared and remained high, resulting in the price of ethylene and VCM starting from oil. In this case, the ethylene process PVC with ethylene and VCM as raw materials is under the double pressure of high cost and falling product price. Many manufacturers have to reduce the operating rate to avoid loss. Different from the single PVC production process in the world, China's PVC production adopts calcium carbide method and ethylene process, and calcium carbide method is the main method, which has obvious cost advantages.



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