TSRC Subsidiary Shenhua Chemical Relocation
In accordance with local policy and regulations for the preservation of water resource and environment along Yangtze River, TSRC subsidiary Shenhua Chemical Company (Shenhua Chemical) will relocate from the northern to the southern section of Nantong Economy and Technology Development Area Chemical Park, Jiangsu Province, Mainland China. The construction of the new plant is scheduled to be completed by 2024 and will increase Shenhua Chemical’s synthetic rubber capacity from 170 thousand ton to 220 thousand ton per year. Total investment is estimated at US 200 million dollars.
As a leading synthetic rubber company in Mainland China, Shenhua Chemical’s relocation aims to continue the steady supply to the key customers on the back of the promising prospects of steady domestic market demand growth, healthydemand-supply balance of the synthetic rubber industry, and the local government’s support to the project.
The relocation project plans to continue operating the old plant until the new plant is constructed and commercialized in 2024 to ensure the smooth transition. The new plant will strengthen Shenhua Chemical’s business competitiveness with the increased capacity and flexibility of additional land space required for new synthetic rubber products to provide better material solutions to the customers.