Monday, Synthesis Energy Systems (SYMX) announced the receipt of required Shandong Provincial Government approval for the Phase II expansion of the Company's Hai Hua plant located in Zaozhuang City, Shandong Province, China. The company noted that this approval will allow it to expands its current facilities to include production of approximately 50K tpa of monoethylene glycol or Glycol and associated by-products.
The company believes that Phase II expansion will strengthen the financial performance of the Phase I assets and also expects that additional equity will not be required for Phase II expansion.
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