November 24 -- Liao Ning Oxiranchem (300082), a maker of crystal silicon cutting liquid, plans to use 840 million yuan of the excess funds raised from its initial public offering in a 200,000-ton epoxyethane production facility, and a 300,000-ton low carbon epoxy material production facility, reports yicai.com, citing a company filing.

Total investments in the two projects are projected to hit 1.68 billion yuan, of which 50 percent will come from bank borrowings.

According to feasibility studies, construction is expected to take 28 months.

The company predicts the projects will generate average annual revenue of 3.76 billion yuan and profit of 623 million yuan.

Source:Capitalvue