Chongqing, China – Huafon Group broke ground in April on a new project at its Chongqing site in Baitao Industrial Park.
According to the group’s website, the project includes capacity as follows:
- 100kT/year differentiated polyurethane elastane;
- 100kT/year polyurethane resin, and;
- 320kT/year cyclohexanol.
The elastane facility was originally planned with 60kT/year capacity. The original plan was to break ground in mid 2017 on differentiated PU elastane capacity as UTECH-polyurethane.com reported at the time.
CNY 4.5bn ($716m) investment is being spent on this expansion, said the firm. When the plant is in full operation it will generate CNY 8.2bn annual revenue said China’s state-owned news agency Xinhuanet.
Set up in 2010, the Chongqing site currently generates more than CNY 10bn in annual sales, said Huafon’s website. This expansion is part of the groups’ plan to grow revenue so that site will generate more than CNY 20bn annual revenue by 2020.
Huafon is looking to build a greener, smarter project. It will adopt the most advanced automation technologies in the facilities, said the elastane unit’s chairman Yang Congdeng. Congdeng was speaking at the ground-breaking ceremony.
Currency Conversion: Xe.com