Binhua raised 2 billion yuan to build propylene oxide/MTBE and new energy projects

Latest News: Binhua shares disclosed the fixed increase plan on the evening of September 27. The company plans to non-publicly issue no more than 617 million shares and raise funds of no more than 2 billion yuan, which will be used for 24/742,000 tons/ Annual propylene oxide/methyl tert-butyl ether (PO/MTBE) project, new energy chemical 100,000 tons/year methylamine plant project and supplementary working capital.

Specifically, the 24/742,000-ton/year propylene oxide/methyl tert-butyl ether (PO/MTBE) project is expected to have a total investment of 2.5 billion yuan, of which 1.4 billion yuan is planned to be raised. After the project is completed, it will help to further expand the company’s core product production capacity and increase the company’s market share; it will help the company to further optimize its product structure, make full use of existing public auxiliary facilities and raw materials, extend the company’s industrial chain, and improve the company’s overall profitability and resistance to resistance. risk capability.

The new energy chemical 100,000 tons/year methylamine plant project is expected to have a total investment of 289 million yuan, and it is expected to use the raised funds of 200 million yuan. The company stated that methylamine is an indispensable raw material for the production of N-methylpyrrolidone (NMP) and other downstream processes that the company plans to invest in. Through the construction of this project, it will supplement the company’s upstream shortcomings and reduce the company’s raw material costs, thus forming a company Comprehensive utilization of resources, energy saving and emission reduction, improve the company’s economic benefits.

Binhua Co., Ltd. said that the company has rich experience in propylene oxide production and customer accumulation, with a current production capacity of 280,000 tons and a domestic market share of about 6% in 2021. In recent years, the company’s production capacity problems have gradually become prominent, and the existing production lines have been unable to fully meet the market demand. Through this fixed increase, the company can further optimize the product structure, enrich the product variety, and improve market competitiveness.