Jilin Boda New Materials Co. Ltd. is investing 500 million yuan in two new materials projects, including 50,000 metric tons of annual capacity of CO2-based biodegradable plastics.
The other project will feature 50,000 metric tons of nanomaterials. Both projects are expected to break ground in May 2017 and complete construction in October, according to a statement by the government of Fuxin, Jilin province.
The CO2-plastics project will be equipped with technology developed by the Changchun Applied Chemistry Corp. of the Chinese Academy of Sciences. The proprietary technology uses a rare-earth catalyst to produce a compound of CO2-based plastics and nanomaterial powder. The compound can be used to manufacture biodegradable film for applications such as agricultural film.
The company plans to invest a total of 3 billion yuan in the next five years and build 300,000 metric tons of annual capacity for each material.