Tongkun Group deliberates and approves the motion on starting the construction of 1,200kt/year of light weight comfortable functional differential fiber project

Tongkun Group  deliberated and approved the motion on starting the construction of light weight comfortable functional differential fiber project with an annual output of 1.2 million tons in Anhui Youshun.

Project name: 1200kt/year of light weight comfortable functional differential fiber project

Construction unit: Anhui Youshun New Material Co., Ltd. (Company’s wholly-owned subsidiary, Anhui Youshun for short)

Site selection and use of the project: The project is located in Longqiao Chemical Industry Park, Lujiang High-tech Industrial Development Zone, Hefei, Anhui Province. The location of the project is superior and the communication is convenient. At present, the infrastructure conditions such as water, electricity, gas, roads, sewage and communications in the park are basically complete, which meet the conditions for the start of the project.

Construction content and scale: The project uses the existing land of Anhui Youshun in the park to build a new polyester workshop, spinning and packaging workshop, three-dimensional warehouse, preparation workshop, MEG tank area, heat medium station, hardware warehouse, acetaldehyde comprehensive utilization device, control/testing center, 35kV substation, rain water pumping station/accident pool, sewage pretreatment and reclaimed water reuse station, supporting comprehensive wharf and office public building, canteen and other construction (structure) project of 415894 square meters. Equipped with 4 sets of polyester production equipment, 48 high-speed winding machine production lines, 48 automatic drop lines, 12 automatic packaging lines, as well as supporting domestic production devices and utility equipment, adopt international leading polymerization technology, polyester melting direct spinning technology, intelligent manufacturing technology and green manufacturing technology to form a production capacity of 1200kt/year of light weight comfort functional differential fiber and 3168 tons of acetaldehyde per year.

Construction durability: 3 years

Project investment and fund source: The total investment of the project is 5.7650023 billion yuan, including 5.1591457 billion yuan in construction investment (including 462.61 million US dollars in foreign exchange), 230.88 million yuan in interest during the construction period, and 374.9766 million yuan in working capital. (Finally, the actual investment expenditure of the project construction shall prevail.). The source of funding is the combination of applying for bank loans and self-financing.

Foreign exchange usage of imported equipment: about 462.61 million US dollars.

Construction scale and product scheme: 1. Construction scale: 1200kt/year of light weight comfortable functional differential fiber project. 2. Product scheme: light weight comfortable functional POY fiber and differential functional FDY fiber.