December 28, 2021
NHU, Sinopec Zhenhai in joint venture to build methionine plant
On the evening of December 26, NHU announced that it would sign a "Letter of Intent for Joint Venture and Cooperation" with Sinopec Zhenhai Refining and Chemical Branch to invest a total investment of about 3 billion yuan to construct a methionine production plant.
This is Sinopec's first investment in the methionine industry.
The two parties will set up a joint venture company to manage the production and sales of methionine products from the plant in Zhenhai District, Ningbo City. The registered capital of the joint venture company shall be 30% of the total investment of the project, invested in cash. Each party will hold 50% of the shares.
NHU started building its first methionine plant in 2016. According to NHU, the company's current production capacity of methionine is 150,000 tonnes. Its production capacity will expand to 250,00 tonnes after the completion of the second phase constriction.