Compensation Nearly 400 Million Yuan! Another Dye Enterprise Will Withdraw From Xiangshui Chemical Industry Park

After Jiangsu annuoqi and Tongcheng Jinghua successively announced their withdrawal from Xiangshui ecological Chemical Industrial Park, Xiangshui Henglida, a listed company in Wuzhong, Jiangsu, plans to withdraw from the park and will receive compensation of nearly 400 million yuan.

On October 13, China Chemical Industry Co., Ltd. announced that it would withdraw from the wholly-owned subsidiary of Jiangsu Hengxiang Chemical Industry Co., Ltd.

The announcement said that affected by the "Xiangshui 321 explosion accident", Xiangshui Henglida has been in a state of suspension. According to the requirements of relevant documents such as the improvement plan for safety and environmental protection of chemical industry in Jiangsu Province and the exit compensation policy for enterprises in Xiangshui ecological chemical industry park, after evaluating the actual situation of the factory, Xiangshui Henglida plans to sign an exit compensation agreement with the Management Committee of Jiangsu Xiangshui ecological chemical Industry Park, with a total compensation cost of about 395.5 million yuan. After deducting the relevant funds, the actual compensation cost is about 384.6 million yuan.

As for the main reasons for signing the exit compensation agreement, the announcement said that at present, Xiangshui ecological Chemical Industrial Park is closed, and most enterprises in the park have signed exit compensation agreement with the park, resulting in a substantial increase in the follow-up public supporting costs of water, electricity and gas; Jiangsu Wuzhong company has fully demonstrated that Xiangshui Henglida needs to continue to invest a lot of funds in the rectification process, and the rectification cycle is long, and there is still great uncertainty whether the final production can be resumed; at the same time, even after the rectification and resumption of production, it is very difficult for the enterprise to expand the production capacity in the original site, and the development space is greatly restricted.

According to the announcement, due to the project has many external factors, there is great uncertainty. Xiangshui Henglida will formally sign the "exit compensation agreement" after the relevant decision-making procedures of the company are passed.

Information shows that Xiangshui Henglida was established on July 21, 2010, and its products mainly involve organic pigments, disperse dyes and other products.

In July this year, Shanghai annuoqi group, a dyestuff enterprise, announced that Jiangsu annuoqi had signed the "Xiangshui ecological chemical industrial park enterprise exit compensation agreement", and the compensation cost was about 53.56 million yuan; Tongcheng new materials announced that Tongcheng fine chemical (Jiangsu) Co., Ltd., the holding subsidiary, planned to sign the "exit compensation agreement", involving compensation of about 93.12 million yuan.