Golden Tech announced today that its fully biodegradable plastic polyester (PBSA) industrialized synthesis unit, invested by its holding company Zhuhai Wantong Chemical Co., Ltd., has commissioned on May 12th. After the normal production of the production line, the annual output is 30,000 tons, which is higher than the previously planned 20,000 tons.
PBSA products are widely used in the packaging film (shopping bags, garbage bags, etc.), paper coating, medical supplies, foam materials, agricultural plastic film and other fields. The project first broke ground in December 2009. The first phase of the project will invest 200 million yuan, and the original designed capacity of 20,000 tons will be put into operation in 2010. Although the project has been put into operation later than originally planned, the scale has been expanded. When the project started, the local government said that the total investment was 2 billion yuan. After the project was put into production, the annual production capacity reached 400,000 tons of high-performance plastic materials, and the annual sales amounted to 10 billion yuan. In the annual report released earlier this year, Blonde pointed out that it is expected that the gross margin of degradable plastic products will be close to 50%.
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