Luxi Chemical plans to build 200,000 tons caprolactam project
Luxi Chemical announced that in order to further promote the company's product structure adjustment, do a good job of extension of coal chemical products and develop a recycling economy, it is planned to invest in and construct caprolactam project with an annual output of 200,000 tons. The total investment of the project is 2.502 billion yuan, which is constructed in two phases and completed in three years. After the completion of the project, it is estimated that the annual sales revenue will increase by 4 billion yuan and the profits and taxes will be about 800 million yuan.
The project was implemented by Liaocheng Coal Mining New Material Technology Co., Ltd., a wholly-owned subsidiary of Luxi Chemical. Luxi Chemical stated that the land currently acquired by the company can meet the needs of new construction projects, and funds required for project construction are mainly resolved through self-raising of enterprises and bank loans. The project can improve the company's market comprehensive competitiveness and ability to resist risks and foster new economic growth points.
Data show that caprolactam is mainly used for the production of nylon 6 chips, and further used in the production of nylon 6 fibers and nylon 6 engineering plastics, etc., widely used in wool, knitting, woven, fishery, tires, engineering plastics, film and composite materials and other fields . Since the beginning of this year, the prices of downstream slicing chips have continued to decline, leading to a continuous decline in the price of caprolactam. According to industry analysis, caprolactam has continued to show signs of falling after the market. However, the Ministry of Commerce finally ruled on October 18 that dumped caprolactam originating in the EU and the United States was dumped, and from October 22, 2011, imposed anti-dumping duties of 2.2% to 25.5% on imports of caprolactam originating in the above-mentioned regions. This may bring vitality to the domestic downturn in the caprolactam market.
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