Affected by the relevant industrial planning of Tianjin, PDH phase II cannot be implemented in the reserved land of Bohai petrochemical in the port economic zone of Binhai New Area as planned. The progress of the project is a hot topic of concern to investors. At the performance exchange meeting held today, Guo Zijing, chairman of Tian Jin Bohai Chemical Co.Ltd(600800) ( Tian Jin Bohai Chemical Co.Ltd(600800) . SH), said that PDH phase II project plans to start land purchase and land pretreatment in the second half of this year, and the construction cycle of the project is expected to be 30 months after the kick-off meeting.
On March 19 this year, Tian Jin Bohai Chemical Co.Ltd(600800) issued the announcement of Tian Jin Bohai Chemical Co.Ltd(600800) on changing the implementation location of some raised investment projects for the technical transformation project of propane dehydrogenation unit, and the company officially changed the implementation location of PDH phase II project. The PDH phase II project is a raised investment project during the company’s restructuring in 2019. Its scale and technical process are the same as that of phase I, with a production capacity of Shanghai Pudong Development Bank Co.Ltd(600000) tons / year, a total investment of 2.953 billion and a planned use of raised funds of 1.783 billion yuan.
Tian Jin Bohai Chemical Co.Ltd(600800) mainly consists of propylene sales, propane sales and data card products, printing products, intelligent application systems and supporting machines and tools of the magnetic card division of the wholly-owned subsidiary Bohai petrochemical. According to the annual report, Bohai Petrochemical has been focusing on the business of propane to propylene. Its products are mainly sold to Shandong and radiate the whole North China. It is a propylene producer with voice in Beijing, Tianjin and Hebei. Its downstream propylene customers include polypropylene, butyl octanol, propylene oxide, phenol, acetone, acrylic acid and other industries. The company announced on the evening of May 5 that Tianjin Bohai Petrochemical Co., Ltd., a wholly-owned subsidiary of the company, signed the investment cooperation framework agreement with Tianjin Economic Development Zone to invest in the construction of “Bohai Chemical light hydrocarbon comprehensive utilization project” in Tianjin Economic Development Zone. The total investment of the project is about 10 billion yuan to build light hydrocarbon comprehensive utilization projects and supporting public works and auxiliary production facilities. The project covers an area of about 490000 square meters. It is planned to start construction this year and complete and put into operation in 2025.
According to the announcement, Bohai Chemical light hydrocarbon comprehensive utilization project “is a municipal key project in line with the national industrial policy and development plan and the strategic deployment of” building a city with manufacturing industry “and” Tianjin + “. Due to the large scale and investment amount of construction projects related to the agreement, Guo Zijing introduced that the company will actively raise project construction funds through a variety of means and channels. In addition to the company’s own funds and early-stage funds, the company will use a variety of channels for financing, including but not limited to bank project loans, equity financing, corporate bonds, convertible bonds, etc.
In terms of equity acquisition, it is worth noting that on March 29 this year, the company completed the equity acquisition of all the equity of China Banknote Paper Company. In this regard, Zhu Wei, general manager of the company, said at the meeting that the company plans to optimize and relocate the original magnetic card business to the location of China Banknote Paper Industry through this equity acquisition, so as to realize the relocation of the original business, improve quality and efficiency, expand the production capacity of the original magnetic card business products, help enrich the business line of listed companies, further broaden the source of profits and enhance the profitability of listed companies. Revitalizing the land and real estate of the company’s original production site is conducive to the improvement of the company’s asset efficiency. The relocation will be completed within this year.
