China breaks the monopoly of multinational companies on the synthetic process of acetic acid
The Yankuang Group officially broke ground on a major chemical project in Zaozhuang City, Shandong Province, with a total investment of 1.8 billion yuan. The facility is designed to produce 300,000 tons of acetic acid and 100,000 tons of ethyl acetate annually. This project, part of the national 863 Program, aims to challenge the dominance of multinational corporations by introducing an advanced coal-water slurry gasification technology developed independently by the group.
On August 2nd, the project marked a significant milestone as Yankuang Cathay Chemical Co., Ltd. began construction. The company has developed its own intellectual property in coal gasification and acetic acid synthesis technologies, which meet international standards. This new plant is expected to become the largest acetic acid producer in Shandong, significantly boosting the local chemical industry.
According to recent updates, the project has already completed key design phases, including underground pipeline maps, civil foundation plans, and the layout of the central control building. The "four connections and one leveling" work on-site has been finalized, and major equipment orders are nearly complete. Construction is expected to be finished within 24 months.
Once operational, the plant is projected to generate a production value of 2 billion yuan annually, contributing 600 million yuan in profits and taxes. This breakthrough not only strengthens Yankuang's position in the chemical sector but also marks a major step toward technological self-reliance in China’s coal chemical industry, reducing reliance on foreign technologies and breaking the monopoly of global players in this critical area.
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