Wankai New Materials (Stock code: 301216.SZ) plans to invest in the construction of a 100,000-ton/year acetic acid project to carry out technological improvements.

Wisdom Finance APP news, Wankai New Materials (301216.SZ) announced that the company plans to invest in the construction of the "Capacity Expansion Annual Production of 100,000 Tons of Ethanedioic Acid Technological Transformation Project" through its wholly-owned subsidiary Sichuan Zhengda Kai New Materials Co., Ltd. (hereinafter referred to as "Zhengda Kai"). The front-end synthesis gas preparation, dimethyl oxalate (DMO) synthesis, and air separation units of the company's wholly-owned subsidiary Zhengda Kai's first-phase 600,000 tons of ethylene glycol project (hereinafter referred to as the "ethylene glycol project") currently have surplus capacity. This project will improve the utilization rate of the existing ethylene glycol unit by increasing the front-end load, using DMO, an intermediate product in the ethylene glycol unit, as raw material, adopting the hydrolysis method production process, producing ethanedioic acid and co-producing hydrogen gas to increase the overall efficiency of the project. The total investment amount of this project is approximately 350 million yuan, with a construction period of 9 months. After completion, it will have the production capacity of 100,000 tons of ethanedioic acid and 8939Nm/h of hydrogen gas.