The construction ceremony for the Joint Venture with the name of Koren Bean (Jining) Chemical CO., Ltd. between AdityaBirla Group of India and Jining Carbon Group of China was held on Oct, 19, 2015.

Before the ceremony, Mr. Zhonghui LIU(Member of Municipal Standing Committee,Executive Vice Mayor of Jining City ) met Mr. Kevin( Global Chief Operating Officer of Aditya Birla Group) and organized a conference.

Attendees from Jining Government including Mr. Chengwen LIU ( Member of Municipal Standing Committee of Jining City, Secretary General ), Mr. Weidong TIAN (Party Secretary of Rencheng District), Mr. Gencai YUE ( Vice Party Secretary of Rencheng District, Head of Rencheng District), Mr. Lixin YANG ( District Standing Committee), Mr.Qin HU (Deputy head of Rencheng District), Mr. Yuanqing CHEN (Secretary of Ershili Valley Working Committee of the CPC) as well as other staff members from Jining Government.

Mr. Sanjeev Sood (President of East Asia Area of Aditya Birla Group), Mr.John (President of North Americanregion of Aditya Birla Group), Mr. Goyal Suiendia( CFO of Aditya Birla Group) as well as other guests from Aditya Birla Group , Mr. Zhen GONG(Secretary of the party committee of Jining Carbon Group), Mr. Qingyi LI (President of Jining Carbon Group) and other management members of Jining Carbon Group also attend the meeting. Mr.Qin Hu hosted the meeting, Mr. Chenwen LIU and Mr. Gencai YUE made speech in the conference.

     Columbian chemicals (Jining) carbon black project is invested by Columbian Chemicals(Weifang) Holdings S.ar.l., a company organized and existing in Luxemburg and International Financial Corporate and Shandong Chenyang New Carbon Material Co.,Ltd. The total investment value is around 300 million USD, Columbian Chemicals(Weifang) Holdings S.ar.l. holds S.ar.l. holds the 75% shares, International Financial Corporate holds the 15% shares,and Shandong Chenyang New Carbon Material Co.,Ltd. Holds the 10% shares.

     The investment agreement was mutually signed by Birla Carbon and Rencheng District Government on May 2013.After two years work, the plant basic engineering & design has already been done on Dec.2014; The ELA has been approved by Shandong province EPB on Oct.2014. Columbian Chemicals (Jining) company was registered on June 2015. Project capital injection, 15 million USD, is already done，now the project construction work will start.

    
     Birla Carbon is the leading company in carbon black industrial and it is the biggest carbon black producer in the world. The CCJN project will use state lf the art technical in this industrial, and Birla carbon plans to build a world class carbon black plant in Jining. CCJN will mainly produce high-quality six type carbon black products for rubber industrial, to supply good quality raw material for tire manufacturing. CCJN plant design production capacity is 240 000 T/Y, it will be executed in two phases. The lst phase capacity will be 120 000 T/Y, the 2nd phase will be 120 000T/Y.

 

     The CCJN project EPC contract was already signed and effective, currently it is already in execution stage. The mechanical completion time will be at the end of 2016, commissioning & start up will take place at the early of 2017, The expected turnover of the plant is around 1.4 billion RMB, CCJN will comply with all China tax law & regulation to contribute its tax to government, there are around 160 jobs can be supplied by CCJN to public, therefore, it has a significant positive social meaning and value.

 

Mr. Zhonghui LIU highlighted the project of 240,000 Mt Carbon Black under KOREN BEAN as the successful example that Jining enterprises attract strategic cooperation with international big enterprises actively, on a win-win model, and the project will become an important breakthrough point and focus on the economic development mode, adjust and optimize the industrial structure, Jining region will become bigger and stronger and promote industrial transformation and up gradation which will have important and far-reaching influence. He also hopes both sides can work together tightly to further strengthen communication, improve cooperation mechanisms, deepen cooperation, To further consolidate the results of the development of cooperation, to create a win-win situation for mutual benefit.

  Mr. Chengwen LIU said, Jining government will always pay attention and offer their support with the development of the new carbon black project, try the best to manage to provide the greatest convenience for the construction of the project. All department of Jining Government will focus on the operation of the project, earnestly perform their duties, to solve practical problems, optimize government services, and create a good environment. Rencheng district will further strengthen communication and contact, adhere to deployment related working efficiently, push the projects perform speedily, and ensure the successful completion of the operation.

Mr. Gencai YUE also regards the new project as the major achievements in the field of large projects of industrial city in Rencheng District, and he promised that Rencheng District Government will accelerate the construction of the project, and make the best environment for project construction,and offer the best service. Jibei High Technology Industrial zone, Ershili Valley Government, Department of Development and Reform as well as other departments will organize and lend forces to offer the best service, to ensure that the project going on smoothly and achieves early completion.

In the ceremony, Mr. Kevin, Mr.Chengwen LIU, Mr.WeidongTIAN ,Jining Carbon staffs and Saiding Ningbo staffs pressed the button together to start the construction working, Mr. Kevin addressed his thanks and made brief introduction of the 240,000 Mt Carbon Black project in the ceremony then.

After the ceremony, AdityaBirla Group and Jining Carbon Group signed the asset purchase agreement of Coal Tar Company together. People attending the signing ceremony including, Mr. Kevin(( Global chief operating officer of Aditya Birla Group) ), Mr.Sanjeev Sood（President of East Asia Area of Aditya Birla Group）, Mr.Goyal Suiendia（CFO of AdityaBirlay Group）, Mr. Guojun CAO (GM of China of Aditya Birla Group), Mr.Zhen GONG(Secretary of the party committee of Jining Carbon Group), Mr. Qingyi LI (President of Jining Carbon Group), Mr.Guangcai ZHANG (GM of JiningCarbon Group), Mr.Guilin YAN (Deputy GM of Jining Carbon Group, General Engineer). Mr. Sangeev Sood and Mr. Qingyi LI signed the agreement together and they wished the new project can bring profits for both sides soon.

The ceremony of 240,000 tons of carbon black project marks the beginning of the project construction of carbon black company; the signing ceremony of the asset purchase agreement marks the coal tar joint venture into a substantive stage, Let's wish the carbon black project will soon put into operation, the Coal tar joint venture company can set up a benefit as soon as possible, and wish the new project can provide new support for the development of Jining Carbon Group.