September 13, 2024 – A significant expansion project is on the horizon for the Chengtou Industrial Concentration Area South in Ganyu District, Lianyungang. Ingenuity Renewable Resources Technology (Lianyungang) Co., Ltd. has secured principal approval for the environmental assessment of its second-phase high-value utilization of marine plastic processing production line from the Ganyu Ecological Environment Bureau of Lianyungang City. The project, located in workshops 14-17 of the Heng’an Industrial Park, spans approximately 9,900 square meters, utilizing leased existing facilities for construction and production.
With a substantial total investment of 60 million yuan, including a significant portion of 1.97 million yuan dedicated to environmental protection, Ingenuity aims to bolster production efficiency and product quality by introducing a suite of advanced equipment. This includes two double-roller shredders, two high-speed friction cleaning machines, six integrated single- and twin-screw extruders, and six pelletizers. These machines will primarily process waste marine plastics such as PA, PP, and PE, transforming them into high-quality plastic granules through processes like wet crushing, dehydration, melting/extrusion, cooling, and pelletizing. Upon completion, the project is expected to achieve an annual production capacity of 26,000 tons of plastic granules.
According to ColorMasterbatchIndustry.com, the successful implementation of this project will not only facilitate the high-value utilization of marine plastics but also inject new vitality into the circular economy of plastics. Notably, Taihua New Material (SH603055), as an indirect shareholder, will play a pivotal role in this endeavor.
Furthermore, as the circular economy of plastics gains increasing attention, related new technologies and equipment have become hot topics in the industry. It has been announced that the 30th China Plastic Recycling and Regeneration Conference & the 7th China International Plastic Recycling Exhibition, organized by ChinaReplas, will take place from October 22 to 25, 2024. The forum on new technologies and equipment for plastic recycling will be a prominent segment of the conference, featuring insightful presentations from renowned experts and industry representatives from both domestic and international arenas. Additionally, the conference will encompass various hot topics such as the proportional use of recycled plastics, plastic packaging for consumer products, automotive plastic recycling, and household appliance plastic recycling, providing a platform for industry professionals to exchange ideas and explore collaborative opportunities.