Yantai Wanhua to invest additional CNY 5.7 bln in upgrading technical facilities, expansion projects

China’s largest producer of MDI- Yantai Wanhua has announced a further investment plan of CNY 5.7 bln for 2012, totaling the overall investments currently being implemented to over CNY 30 bln as per PU2PU. In 2012, a total of CNY 3.41 bln will be invested in projects in the Yantai Industrial Park, CNY 1.84 bln in upgrade of technical facilities in Ningbo, and CNY 448 mln in expansion projects with Ningbo Thermal Power Corporation and Donggang Electrochemical Corporation. This decade has seen the company speed up expansion with capacity addition of 300,000 tpa in 2007 at a 160,000 tpa MDI facility completed in 2005. In September 2007, the company announced its Phase II MDI investment plan of CNY 5 bln and commissioned the new facility in Ningbo at the end of 2010. Currently, total MDI production capacity in Ningbo Industrial Park is 600,000 tpa.
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