I. Project name: Project towards producing 50,000 tons formic acid annually

II. Project address: No. 121 Taixi Street, Feicheng City

III. Brief introduction to the project: This project mainly adopts the advanced production technology of methyl formate internationally, introduces 1,000 advanced equipments from home and abroad, sets up production equipment for producing 50,000 tons formic acid annually and builds supporting installations for some utilities including water supply, drainage, firefighting, electric and autoregulation. The project is being in environmental impact assessment and safety evaluation at the present time. Investors are welcome to negotiate and cooperate with the company.

IV. Total investment: 220 million yuan RMB

V. Ways of cooperation: Joint venture and cooperation

VI. Market analysis of the project: As one of the basic raw materials of organic chemical industry, formic acid is widely used in the fields of agricultural chemical, leather, medicine, rubber, printing and dyeing and industrial chemicals as well. It is estimated that the consumption amount of formic acid is about 200,000 tons in China of which East China and South China consumes more. So, this project has broad market potential and developmental space.

VII. Analysis of the economic benefit: After the project puts into operation, it can newly increase the sales revenue of 250 million yuan RMB, and profit and tax of 50 million yuan RMB annually as well.

VIII. Brief introduction to the cooperation unit of the project: Feicheng Acid  Chemical Co., Ltd. was founded in 1994 with a registered capital of 52.2 million yuan RMB. The company is a national-level prominent high-tech enterprise and one of biggest 500 chemical and industrial enterprises in China, which has set up postdoctoral research station and provincial-level technology development center as well. The main products and productivity are: formic acid 100,000tons/year, methanol 50,000tons/year, aminomethane 15,000tons/year, calcium formate 10,000tons/year, methyl formate 5,000tons/year, methanamide 4,000tons/year, potassium methoxide 4,000tons/year, ammonium formate 2,000tons/year and high purity carbon monoxide 200,000m3/year. Among them, the leading product, formic acid mainly adopts the advanced production technology of methyl formate internationally. As the first enterprise which adopts this technology to produce formic acid has owned the biggest formic acid production device in Asia.

IX. Contact ways:
Contact unit: Feicheng City Municipal Investment Promotion Bureau
Person to contact: Zou Hui
Tel: 0086-538-3229759
E-mail: zh135838@163.com