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On December 22, Hyosung Spandex (Ningxia) Co.
, Ltd.
officially started production of 360,000 tons of spandex and its raw material supporting project.
The project was established in January 2021 and officially settled in the Ningdong base in March.
The project is Hyosung, South Korea.
A foreign-invested company jointly funded by Tianxi Co.
, Ltd.
and Hyosung Turkey is mainly engaged in the research and development, production and sales of chemical fibers
.
It is reported that the project is the largest wholly foreign-owned project in Ningxia's history, and it is also a high-performance fiber project that is planned and constructed by the Ningxia and Ningdong bases with a total investment of 12 billion yuan
.
After the project is completed, it will produce 360,000 tons of spandex and 300,000 tons of polytetramethylene ether glycol series products annually, with an annual sales income of 21 billion yuan
Based on exclusive production technology, R&D and global marketing activities, Hyosung Group has developed into the world's largest spandex manufacturer and has the world's largest spandex market share
.
It is understood that the construction will be divided into 5 phases in accordance with the principle of one-time planning and phased implementation
Tao Shaohua, Deputy Secretary of the Party Working Committee and Director of the Management Committee of Ningdong Base, stated that during the "14th Five-Year Plan" period, Ningdong Base will build nine subdivided industrial chains and industrial clusters, and plan to reserve "eight ten billion yuan" major projects.
The Ningdong project of Hyosung Group is the top priority of the Ningdong base in terms of industrial planning and layout, and construction of major projects.
Ningdong will use all the efforts of the whole committee to optimize the allocation of resources and elements, improve infrastructure facilities, and build Optimal investment environment, go all out to ensure the successive construction, production and operation of projects
.
In addition, the construction of this project is conducive to promoting the innovative development of the modern coal chemical industry, extending the downstream industrial chain, building high-end industrial clusters, and promoting the transformation and development of the coal chemical industry into a new material industry
.
(Marnie)
