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Sinochem New Net News Dongfang Shenghong announced on the evening of January 12 that its two subsidiaries planned to spend 6.
45 billion yuan to expand two major projects - super-simulation functional fibers and regenerated differentiated and functional polyester filaments
.
Dongfang Shenghong said that in order to further enhance the market competitiveness of polyester filaments, the company's second-level wholly-owned subsidiary Guowang Hi-Tech Fiber (Suqian) Co.
, Ltd.
plans to use its own funds and bank loans to invest in the construction of the second phase with an annual output of over 500,000 tons.
The simulated functional fiber project is expected to have a total investment of 3.
612 billion yuan and a construction period of 2 years
According to the announcement, the super-simulation functional fiber project with an annual output of 500,000 tons and the 16-million-ton refining and chemical integration project of Shenghong Refining and Chemical (Lianyungang) Co.
In addition, Jiangsu Ruibang Technology Co.
Dongfang Shenghong said that the product of this project is a recycled intelligent super-simulation functional chemical fiber, which is mainly positioned in civilian products such as clothing decoration.