September 21 The reporter learned yesterday from the Nangang Industrial Zone that Tianjin Linxian Petrochemical Co., Ltd. recently increased its investment by 300 million yuan in Nangang and increased its registered capital by 50 million yuan. The current capital increase will allow Lin Xian Petrochemical to double its lubricant production capacity in Nangang.
Linxian Petrochemical Co., Ltd. was established by Taiyuan Shishi Chemical Industry Co., Ltd. earlier this year. The capital increase will bring Lin Xian Petrochemical's total investment to 400 million yuan and registered capital of 100 million yuan. Lin Xian Petrochemical's lubricant production capacity will be expanded from the original 100,000 tons/year to 200,000 tons/year. At the same time, it will also enhance the company's lubricant storage and logistics capabilities and increase the base oil import and export trade business. After the completion of all, the company's annual total sales will reach 1.6 billion.
Taiyuan Stone Chemical Co., Ltd. is mainly engaged in the production and sales of medium-to-high grade lubricants. It is one of the top 100 private enterprises in Shanxi Province and the largest lubricant (fat) production and sales company in Shanxi Province. In this capital increase, two new shareholders, namely United Fuels Trading Co., Ltd. and Kanghui Industrial Co., Ltd., were newly introduced to further enhance the overall strength of the company.