Adisseo plans to build a new world-class liquid methionine plant in Nanjing

China Securities Network News (reporter Jiang Yuling) Andisseo (600299) announced on the evening of January 16 that the company's board of directors has approved the construction of a new liquid methionine plant in Nanjing (referred to as the "new Nanjing plant"). The plant will be the company's third liquid methionine platform globally, the announcement said. It is understood that the first world-class factory owned by the company was located in Burgos, Spain, and the second was the Nanjing plant ("existing Nanjing plant") that had been built and put into operation before.

The company revealed that the new Nanjing plant is located in Nanjing Liuhe Chemical Park, adjacent to Adisseo's existing Nanjing plant, which can make full use of the construction and operation experience of the existing Nanjing plant to maximize synergy benefits. It is understood that the new Nanjing plant is designed to have a production capacity of 180,000 tons of liquid methionine per year and is expected to be put into operation in mid-2021. The total investment is approximately $490 million, funded by the company's own funds. The project payback period after the plant is put into operation is about four years.

Adisseo said the plant was built to meet growing customer demand and achieve Adisseo's sustainability goals. The new Nanjing plant will share the operation management team with the existing Nanjing plant and share some facilities (administrative building, warehousing and logistics, utilities, etc.), thereby reducing capital expenditure and operating expenses, and further strengthening Adisseo's competitive advantage.

Adisseo CEO Jean? Mark said: "The new Nanjing liquid methionine plant is a key step to further consolidate our leadership position in the methionine industry. Global methionine demand has maintained an annual growth rate of about 6% in the past, of which the annual growth rate of liquid methionine is more than 10%. The approval of this project also demonstrates the confidence of the management and board of directors of Bluestar Group and ChemChina in Adisseo's competitiveness in the methionine industry and the confidence that our team can fully realize the value of this investment. ”

"In addition, we also see the scale benefits of building a new factory in Nanjing. We can make full use of the existing local team resources, share the experience of building and operating the existing plant and some existing facilities, and jointly build the two Nanjing plants into the largest liquid methionine production platform. "Let's? Mark concluded.

This article originated from China Securities News? China Securities Network

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