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Chem China US$ 166.67 million (1 billion Yuan) high-end carbon fiber composite materials project has formally formally started construction end of February.
The Jizhou high-end carbon fiber composite materials project is a joint venture between Chem China and Zhongyi FRP. Both sides have signed the initial agreement as early as in November last year. The total agreed investment has reach US$ 166.67 million (1 billion Yuan).It is reported that the project will include the relocation of the production line and the development expansion toward the more high-end products. The project covers an area of about 100,000 square meters.The project construction has been divided into three phases. After the completion of the project, the project's annual sales income will reach US$ 63.33 million (500 million Yuan) and an earning of SU$ 11.33 million (67 million Yuan).Another composites investment in Jizhou is also worth noting. In July 2013, Hebei KNT has achieved a strategic cooperation with another world top 500 enterprises -- the Sekisui Chemical Co., Ltd (Sekisui). Both parties agreed to invest US$ 200 million (1.2 billion Yuan)to build China domestic first composite materials brand. The project covers an area of about 216,667 square meters.The project plans to import Japan's advanced technology to produce electrolytic tank, purification tank and other special composite material products. It is expected to achieve annual sales income of US$ 133.33 million (1 billion Yuan) with an earning of US$ 33.33 million (200 million Yuan).More information:www.chemchina.com.cn - www.jizhou.gov.cnOriginal language Chinese