Zhangzhou Chimei Chemical today announces that it has closed a syndicated loan with the amount of RMB 1.8 billion in order to meet the funding requirements for the second phase of the ABS project and the construction of the PS project. 15 banks have participated and the 3 lead managing banks include Mega International Commercial Bank, Chinatrust Commercial Bank and Bank of Taiwan. As CHIMEI Corporation acts as the joint guarantor, the bank group was organized and signed in less than three months, showing its affirmation of the CHIMEI Group’s management team and its deep confidence in the group’s future operations.

Zhangzhou CHIMEI Chemical, which was invested by CHIMEI Corporation and established in August 2018, is located in Fujian Gulei Port Economic Development Zone. It is planned to build an ABS plant with an annual capacity of up to 600,000 tons, a PS plant with 350,000 tons and a PC plant with 180,000 tons per year in three phases.

The first phase of 450,000 tons of ABS is expected to be put into operation as scheduled in July this year; the second phase of 350,000 tons of PS is expected to be put into operation in the fourth quarter of 2022 .

With the new production capacity, CHIMEI will be able to provide its global customers and related industries with an abundant source of plastic materials as well as comprehensive services.