Wanwei High-tech to invest a 35kt differentiated PET fiber chip line

Wanwei High-tech (600063.SH) announced that the company intends to invest a 35kt differentiated PET fiber chip line.

PET is a high molecular compound, made from PTA and MEG, and is raw material for polyester fibers, bottles and films. In recent years, apart from the traditional chemical fiber industry, polyester products are also applied in non-fiber markets, widely used in the packaging industry, electronics and electrical appliances, medical and health, construction, automotive and other fields. The demand for differentiated PET chip is increasing year by year, which has reached 600kt in China alone.

The total investment of the project is 128 million RMB, and the construction period of the project is 12 months. Once launched, it is estimated that the average annual sales income is 438 million RMB, and the total annual profit and tax is 46.6171 million RMB.