Asia Carbon Industries, Inc. announced that it has begun construction of a 3000 KW power plant. Utilising residual heat generated from the company’s carbon black manufacturing process, the plant’s 3000 KW capacity will satisfy the company’s electricity needs for the foreseeable future.
The budget for construction of the facility is approximately US$6.3 million, which will be fully funded by company operations. Expected to be operational early in Q4 2012r, management estimates that the facility will reduce Asia Carbons’ electricity expenses by approximately US$1.3 million annually.
Ms. Yao Guoyun, Asia Carbon’s Chairwoman of the Board and Chief Executive Officer, commented, “This power plant is an important step in the Company’s long-term expansion plan. The benefits are financial and environmental. We believe it will not only result in significant savings to our cost of production, but also reduce the negative impact on the environment, which we are extremely proud of.”
Ms. Yao went on to say “The facility will also reduce our reliance on the local electric supply, which can be erratic at times. This independence will greatly facilitate our ability to continue the efficient expansion of our production capacity, which is our overall objective.”
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