The grand opening ceremony was hosted by Mr Paul Cheung Kwok-wing, Chairman, and Mr Patrick Chan Wing-kwan, Managing Director of Kingboard Chemical, in the presence of representatives of the Chongqing municipal government. Mr Paul Cheung Kwok-wing, Chairman of Kingboard Chemical, noted: “After our successful 600,000-tonne per annum methanol joint venture in Hainan Province with China BlueChemical Ltd, Chongqing project with a designed annual capacity of 450,000 tonnes is another wholly-owned large-scale methanol project in Kingboard Chemical using natural gas as feedstock. Chongqing plant will contribute to the significant expansion of methanol production scale and capacities for our chemical division. Total methanol production capacity for Kingboard Chemical will reach 1.16 million tonnes per annum from now on, further bolstering our position as the leading chemical supplier in the PRC market.”
Mr. Paul Cheung Kwok-wing, Chairman of Kingboard Chemical, said: “The Chongqing plant is strategically located in densely populated Sichuan Province, a major economic hub in south western China. Apart from having an abundant supply of natural gas as feedstock, as well as being at close proximity to strong local demand, methanol can be transported by vessel to satisfy strong demand from potential customers in the Yangtze hinterland of China and this project is expected to generate attractive return for our shareholders.”
Kingboard Chemical has a highly vertically integrated operation with three core business lines: laminate, chemical and printed circuit board (PCB). Methanol project is one of the Group’s key upstream chemical operation, and will become a strong growth driver in the future.
Key data relating to the Chongqing Methanol Project:
| Company Name | Kingboard Natural Gas Chemical (Chongqing) Ltd |
| Location | 7 Huanan Road, Changshou Chemical Park, Chongqing, PRC |
| Annual Production Capacity | 440,000 sq. meter |
| Site Area | 660,000 sq m |
About Kingboard Chemical
Kingboard Chemical Holdings Limited (HKEx: 148) is a global leader in laminate and printed circuit board as well as a major chemical supplier in China, where the Group’s core manufacturing capability comprises an integrated network of more than 50 plants. The Kingboard Group of companies also includes Kingboard Laminates Holdings Limited (HKEx: 1888), Kingboard Copper Foil Holdings Limited (listed on the Singapore Exchange) and Elec & Eltek International Company Limited (listed on the Singapore Exchange).