On February 3, 2021, CNNC HUAYUAN Titanium Dioxide Co., Ltd issued several announcements, saying that the company plans to build "resource comprehensive utilization project" and "recycling titanium dioxide deep processing project" through its wholly-owned subsidiary Gansu Dongfang Titanium Industry Co., Ltd. (hereinafter referred to as "Dongfang titanium industry"). The total investment is round RMB 1.911 billion (around 296 million USD). The project is located in the fine chemical industry park of Baiyin national high tech Industrial Development Zone, Baiyin City, Gansu Province.
Specifically, the "resource comprehensive utilization project" plans to build an annual output of 200000 tons of titanium dioxide rough product production line and supporting ancillary projects, which is planned to start in April 2021. The construction period will not exceed 24 months from the start of construction, and the annual profit is expected to be 320 million yuan.
The "recycling titanium dioxide deep processing project" is mainly to build a production line with an annual output of 300000 tons of titanium dioxide products and supporting ancillary projects. It is planned to start construction in April 2021, realize the deep processing scale of 150000 tons of finished products in June 2022, and realize the deep processing scale of 300000 tons of finished products in June 2023, with an estimated annual profit of 320 million yuan.
CNNC HUAYUAN Titanium Dioxide Co., Ltd said that combined with the existing 100 kt/a titanium dioxide crude product project, the proposed 200 kt/a titanium dioxide crude product project and the construction of 300kt/a titanium dioxide finished product production line of Dongfang titanium industry, will improve the added value of its products. And the overall industrial scale and comprehensive competitiveness of the company can be effectively improved, which is in line with the company's long-term development plan and development strategy.