According to a recent announcement of the board meeting of Hangzhou Hangyang, the leading independent enterprise in the manufacturing of air separation plants in China is to set-up a joint venture company in Guangxi province, China.
The preliminary name of the company is Guangxi Hangyang Jinchuan Xinrui Gases Co Ltd (Guangxi), and will be established by three companies, namely Hangzhou Hangyang, Guangxi Jinchuan Non-ferrous Metals Co. Ltd and Zhejiang Xinrui Air Separation Equipment Co. Ltd.
The planned registered capital of Guangxi is RMB 135m, of which Hangyang has a share of 51% whilst Jinchuan and Xinrui will have 34% and 15% respectively.
The first project of the joint venture is to set up two sets of 120 tpd air separation units (ASU) in the plant area of Guangxi Jinchuan Non-ferrous Metals, in the Non-ferrous Metals Processing Zone in Fangcheng Port of Guangxi province. The two ASUs will deliver industrial gases to Jinchuan Non-ferrous Metals and the gas supply agreement has been finalised already, gasworld China understands.
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