Hefei, Anhui – China’s Hongtai Holding plans to build a new plant in Hefei, Anhui with the ability to treat 300,000 tonnes of scrap tire annually.
Hongtai signed contact with local government in September 2019 and the project’s first round of public review of environmental impact started in December.
The project is located at Hefei’s Lujiang High-tech Industrial Development Zone, covering 113,000-square-metre area.
It has €139 million (1.07 billion yuan) total investment and will be built in two phases, with respective annual capacity of 100,000 tonnes and 200,000 tonnes.
Phase one is scheduled to come on stream within 2020 and generate €73 million in revenue. Phase two will be completed by 2023 with €196 million worth of annual production.
The plant will use Hongtai’s own-developed liquid phase pulverisation technology to treat tires from Anhui and other East China provinces.
Headquartered in Guangzhou, Hongtai Holding was set up in 2012 and currently have capacity for 120,000 tonnes scrap tire annually. It also plans to build a new factory in Jieyang, Guangdong with 100,000 tonne annual capacity.