Jiangsu Jiatong Energy Co Ltd in Rudong county, East China's Jiangsu province, is expected to achieve sales of over 25 billion yuan ($3.47 billion) after reaching full production at the end of this year.

The company is a manufacturing facility funded by Tongkun Group, a listed company that focuses on the production of pure terephthalic acid (PTA), polyester, and polyester fiber.

The first phase of the project cost over 20 billion yuan. It started production in December 2021 and achieved sales of 8.46 billion yuan in 2022. It has provided employment for more than 7,000 people.

Once the project is fully operational, it will produce 5 million metric tons of PTA and 2.4 million tons of functional fibers annually.

"At present, the daily production capacity of the company is 6,000 tons, double the same period last year. After reaching full production at the end of this year, the daily production capacity will exceed 8,000 tons, making it the largest factory in the group in terms of individual production capacity," said Yu Yang, general manager of the company.

According to Yu, the company achieved sales of 11.14 billion yuan in the first half of this year.

Based on the first phase of the project, Tongkun is promoting the extension of the industrial chain. The group plans to invest 5.5 billion yuan into a new project that will focus on the reprocessing of polyester filament produced in the first phase. The project aims to further develop the spinning, weaving, and dyeing sectors in Yangkou Port.

A worker at Jiangsu Jiatong Energy Co Ltd. [Photo/Nantong Daily]