Located in Ningbo, China, Keyuan Petrochemicals was established in 2007 and has been operating through its wholly-owned subsidiary, Keyuan Plastics. In this short period of time, Keyuan has evolved into a leading independent manufacturer and supplier of various petrochemical products. Today, the young company took a major step towards enhancing its future announcing they have commenced construction on a new gas-fired boiler.
The project is intended to be completed by the end of November and will cost Keyuan USD $1.47 million. If successful, the gas-fired boiler will cut approximately 30% of all steam supply costs and save the company $1.76 million per year.
Leading the team at Keyuan is Chunfeng Tao who is the company’s Founder, Chairman and CEO. Commenting on what the gas-fired boiler will mean to the future of Keyuan, Tao was quoted as saying, “Controlling critical supply components, such as steam supply that we use in our manufacturing processes, has both strategic and economic benefits. By adding the boiler, we will be able to manage our own steam supply and achieve above-industry-average margins by reducing energy related costs and improving utilization rates. In addition to this and other process improvements, as previously announced, we are also expanding our overall production and facility capacity in order to capitalize on China’s growing demand for refined petrochemical products.”
Keyuan’s customer order requests for 2010 have exceeded its current annual production capacity due to the supply-demand imbalance in China. The new gas-fired boiler will allow Keyuan to increase its capacity to meet such demands and expand their business.
To learn more about what Keyuan Petrochemicals has in their pipeline, visit the company website at: www.keyuanpetrochemicals.com.