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This is after the investment in Jining Zhongyin Electric Power Company at the end of last year, Lenovo once again laid the chemical project in Shandong Province, the largest chemical province.
According to the Strategic Cooperation Framework Agreement, in the next five years, Lenovo will rely on Zaozhuang’s coal resources and the existing Chenlong Chemical Venture Base, Xineng Fenghuang, and Shenda Chemicals, and will invest 18 billion yuan in two phases to build one million tons. Olefins and fine chemical bases. The first phase of the construction project plans to invest 7 billion to 8 billion yuan, and will form a complete coal chemical industry chain with coal to methanol, methanol to olefins, and olefins to be processed downstream. After reaching the end of 2013, the annual sales revenue will exceed 10 billion yuan. The second-phase (2013-2015) construction project plans to invest more than 10 billion yuan to further expand the production capacity of methanol and olefins, and combine with salt chemicals, bio-chemicals, and continue to develop the downstream fine chemical and new materials industries to form an upper scale and system. In the domestic chemical industry cluster, the annual sales revenue will reach more than 20 billion yuan.
Lenovo will regard coal chemical industry as a key investment direction, and will establish a (coal) chemical engineering technology center in Zaozhuang to provide sustainable technical support for Lenovo Chemicals.
It is reported that as early as the end of 2007, Lenovo will extend its reach to the chemical industry, and the two companies, Xinao and Panhai, will invest in Zaozhuang to participate in the million-tonne ammonia project of Xinneng Phoenix Co., Ltd. At the end of last year, Lenovo also cooperated with Shandong Jining Zhongyin Electrochemical Co., Ltd. to invest 4 billion yuan to build an annual output of 500,000 tons of chlor-alkali and chlorine products. The project started in Lenovo's high-end chemical recycling economy demonstration zone. According to Lenovo Investment’s China Banc Framework Agreement, Lenovo will give its support to BOC Power in terms of funding and strategy formulation. Through a total of 5 billion yuan in investment over a five-year period, BOC will achieve the goal of retreating into the city, expanding production capacity, and developing the chlor-alkali industry. The downstream products and related industries were expanded to form an industrial cluster integrating chlorination workers, product chlorination, fine chemicals, and salt and electricity integration, and implement a diversification strategy.
According to industry insiders analysis, Lenovo aggressively advances into Shandong, will promote chemical parks, promote the extension of basic chemical product chain in the province, and increase the level of intensive production.
Lenovo's 18 billion yuan investment in the first chemical province
Lenovo Holdings Co., Ltd. (hereinafter abbreviated as Lenovo), which is committed to diversified investment, made a big investment again and decided to set the new coal chemical industry as a key investment direction and build coal chemical and fine chemical bases in Zaozhuang City, Shandong Province. On September 12, Lenovo and the Zaozhuang Municipal Government signed a strategic cooperation framework agreement with a total investment of 18 billion yuan for the construction of coal-to-methanol, methanol-to-olefin and fine chemical projects.