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Xinjiang seeks major
petrochemical investments
BEIJING - Xinjiang Fulun Company in Nanjiang
Petrochemical Base in Xinjiang Uygur Autonomous Region
in China is seeking investors for three major projects
in composite filaments, methanol and acetic acid.
Details for the 3,000-ton composite filament project:
Project No. Nanjiang Petrochemical Base Project
2004-059. Name: 3,000-ton composite filament project
of Xinjiang Fulun Company.
Main contents: composite super-thin fiber is a new
product developed in the 1990s and is widely applied
in garments, food utensils, glass lens, cleaning cloth
for high-precision apparatus, decorative cloth, boxes
and bags, interior decorating materials for
automobiles and new-type tent materials.
Market demand estimate: per capita consumption of
fiber in China is 5.5 kilograms a year at present and
is expected to reach 6.6kg by 2005. Market demand for
composite filament is increasing year by year.
Production plan: the project is designed to produce
1,500 tons of cotton-polyester filament, 1,500 tons of
Bossypium filament, 18.7 million meters of peach fuzz,
5.3 million meters of suede and 1,200 tons of high
water-absorbent towels a year.
Raw materials and supply: key raw materials are PET
chip, PA chip, CO-PET, PA chip and cotton yarn, which
can be supplied either by enterprises in the region or
purchased on market.
Estimated investment: one billion yuan.
Anticipated economic benefit: gross profit: 249.3
million yuan; profit rate of investment: 30%; period
for investment recouping: 3.3 years.
Way of cooperation: cooperative construction or joint
venture.
For more information, please contact Xinjiang Oil and
Petrochemical Development Leading Group Office.
Telephone: 086-991-4523842, 4593901 and 4593902 Fax:
086-991-4520181
Investors sought for methanol project
Nanjiang Petrochemical Base in Xinjiang Uygur
Autonomous Region in China is seeking investors for a
800,000-ton methanol project.
Project details: Project No Nanjiang Petrochemical
Base Project 2004-056. Name: 800,000-ton methanol
project
Market demand estimate: China consumed over 3.8
million tons of methanol, of which 1.8 million tons
were imported in 2002. As application of methanol fuel
spreads, China's market demand for methanol is
expected to reach 5.5-8.5 million tons around 2010.
Production plan: the project is designed to produce
800,000 tons of methanol a year. Raw materials and
supply: Key raw material is natural gas, and natural
gas supply may come from the Tarim Gas Field.
Estimated investment: 1.97077 billion yuan (US$238
million).
Anticipated economic benefit: Sales income: 1.08
billion yuan: gross profit: 306 million yuan; profit
rate on investment: 10.2%; period for investment
recouping: 8.3 years.
Way of cooperation: equity or non-equity joint venture,
or solely owned venture.
For more information, please contact Xinjiang Oil and
Petrochemical Development Leading Group Office.
Telephone: 086-991-4523842, 4593901 and 4593902. Fax:
086-991-4520181
Investors sought: 400,000 acetic acid project
Nanjiang Petrochemical Base in Xinjiang Uygur
Autonomous Region in China is also seeking investors
for a 400,000-ton acetic acid project.
Details: Project No. Nanjiang Petrochemical Base
Project 2004-057. Name: 400,000-ton acetic acid
project. Market demand estimate: China's acetic acid
consumption topped 1.2 million tons in 2002, including
350,000 tons of import. For a period of time, neither
China's domestic production capacity nor its output of
acetic acid can meet the increasing market demand.
Production plan: the project is designed to produce
400,000 tons of acetic acid a year. Raw materials and
supply: key raw materials are methanol and carbon
monoxide, which may be constructed together with
methanol production installation and be supplied
directly.
Estimated investment: 1.8 billion yuan (US$217 million).
Anticipated economic benefit: annual sales income: 1.6
billion yuan; gross profit: 460 million yuan; profit
rate on investment: 15.6%; period of investment
recouping: 6.8 years. Way of cooperation: equity or
non-equity joint venture, or solely owned venture.
For more information, please contact Xinjiang Oil and
Petrochemical Development Leading Group Office.
Telephone: 086-991-4523842, 4593901 and 4593902. Fax:
086-991-4520181
(Asia Pulse/XIC)
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