On October 20, Zhuhua Chemical (603067.SH) announced that in order to fully respond to and implement the decision-making arrangements for the environmental protection technology improvement, upgrading, and relocation of chemical enterprises made by the Chongqing Municipal Committee and Municipal Government and the Tongnan District Committee and District Government, there is a possibility of relocation compensation for the buildings, structures, and equipment of its subsidiary Chongqing Minfeng Chemical Co., Ltd. located in the northern area of Tongnan Industrial Park.
II. Basic Information of the Planned Relocation Enterprise
Minfeng Chemical is currently located in the northern area of Tongnan Industrial Park, Chongqing, covering an area of 837 acres. It currently has a production capacity of 0.1 million tons/year of chromic salt, 1000 tons/year of vanadium pentoxide, 1500 tons/year of Vitamin K0.03, and 0.3 million tons/year of sulfuric acid. The factory is currently operating well, and the land clearance work for the relocation will commence after the new factory is fully constructed, production equipment is commissioned, and operations are stable. It is expected that this relocation will not affect the company's production and operation.
III. Basic Information of the Proposed New Project
Minfeng Chemical plans to relocate to the eastern area of Tongnan Industrial Park through land exchange for the "Chromium Titanium New Materials Green Intelligent Manufacturing Environmental Protection Relocation Project" (referred to as the "Chromium Titanium New Materials Project"). The main construction contents include: 0.2 million tons/year of chromic salt production unit, 1500 tons/year of vanadium pentoxide production unit, 5000 tons/year of Vitamin K3 production unit, 0.05 million tons/year of ultrafine aluminum hydroxide raw material production unit, 0.5 million tons/year of sulfuric acid and cogeneration unit, 0.02 million tons/year of special titanium dioxide production unit, and supporting auxiliary, public, storage, transportation, and environmental protection facilities. As of the date of this announcement, the Chromium Titanium New Materials Project has completed the initial public disclosure of the environmental impact assessment and is undergoing subsequent approval procedures.
