On May 27, 2021, the Inner Mongolia Autonomous Region Branch of the Export-Import Bank of China granted a 300 million yuan project loan to Inner Mongolia Jiutai New Materials Co., Ltd. for its ethylene glycol project with an annual output of 1 million tons. This is the first project loan for the project to be implemented. It is not only China Export-Import Bank’s affirmation of the company’s future prospects, but also lays a solid foundation for the subsequent financing of the project.
Since its launch in Tuoketuo Industrial Park in 2017, Inner Mongolia Jiutai New Materials Co., Ltd. has attracted the attention and strong support of party committees and governments at all levels. Listed as a key project in the autonomous region, it has also helped solve construction problems from multiple dimensions. It has organized and convened financing coordination meetings many times to guide financial institutions to support project construction. At the same time, it has participated in the project in the form of investment and equity participation, fully demonstrating its high importance and great importance to the project. confidence. The implementation of the China Export-Import Bank project loan is the best feedback to the strong support of party committees and governments at all levels. It is also a concrete measure for financial institutions to actively respond to support the real economy, the private economy, and support high-quality local development.
I believe that with the support of party committees and governments at all levels and the Export-Import Bank of China, the project construction will definitely receive support from more financial institutions, and the company will also We will go all out to speed up the construction progress, strictly control the construction quality, complete the project on schedule and reach capacity as planned, repay the society with actions, and make greater contributions to the rapid development of the local economy.
At present, Inner Mongolia Jiutai New Materials Co., Ltd.’s annual output of 1 million tons of ethylene glycol project has made breakthrough progress. The project device has been officially debugged by the monomer. Entering the system linkage debugging stage, the methanol unit is planned to be commissioned and commissioned at the end of September.
Project Overview
Inner Mongolia Jiutai New Materials Co., Ltd. annual output The 1 million tons ethylene glycol project is the world’s largest hydrogen carboxylation legal ethylene glycol project. Based on the industrial development ideas of new materials, new energy, and biodegradability, the construction is planned and started by Jiutai Group and uses formaldehyde from the internationally leading Davy Company. Hydrocarboxylation process to prepare ethylene glycol.
Inner Mongolia Jiutai New Materials Co., Ltd. is a subsidiary of Jiutai Group. It was registered and established in March 2017. The company covers a total area of 2,565 acres and has a total investment of 13.3 billion yuan. Among them, American Air Products Company (AP Company) invested 4.8 billion yuan to build air separation, gasification and other boundary areas.
The construction scale of the first phase of the project is to produce 1 million tons of ethylene glycol per year. The project uses aerospace pulverized coal gasification and shell gas Chemical process technology, low-temperature methanol washing process technology and the world’s advanced Davy Company’s formaldehyde hydrogen carboxylation process technology to produce ethylene glycol. This process is the world’s first large-scale industrial device and has the advantages of advanced technology, energy saving and environmental protection, and high conversion rate. The project construction period is three years, and it is planned to be commissioned in 2020 and officially put into production in 2021. After being put into operation, it can achieve annual sales of 10.6 billion yuan and profits and taxes of 3.66 billion yuan. </p
