Eastern Shenghong to Launch EVA and Steam Cracking Project

PVTIME – On 28 March 2023, Jiangsu Hongjing New Material Co., Ltd., a wholly-owned subsidiary of Jiangsu Eastern Shenghong Co.,Ltd. (000301.SZ), a China-based manufacture mainly engaged in the R&D, production and sales of textile products, disclosed that it will invest and start the construction of the first phase of renewable material production project.

The company plans to apply for a medium- to long-term loan of up to 8.4 billion from banks for investing in the project, which is designed to reach annual production capacity of 600,000 MT of ethylene vinyl acetate copolymer (EVA) for photovoltaic products, 100,000MT of carbon V steam cracking plant and 100,000MT of carbon IX steam cracking plant, and related supporting projects.