On the morning of April 17, Jiangsu Ruisheng New Materials Co., Ltd., a subsidiary of Sinochem International, held a groundbreaking ceremony for its 5,000-ton aramid project in the Yangzhou Chemical Industry Park. Yu Hongtao, General Manager Assistant of Sinochem International, Zhao Kairong, General Manager of Sinochem High Performance Fiber Materials Co., Ltd., and Shao Wei, Head of the Management Committee of the Park, were present.
The project, with a total investment of RMB 1.253 billion, is an important pillar of the Sinochem International High-Strength Protective New Materials Program in the Yangzhou Chemical Industry Park, in which Sinochem Group intends to invest a total of RMB 3.78 billion. It is also an integral part of the Group's efforts to build up its business segment of new high-performance chemical materials.
Yu Hongtao said at the ceremony that the 5,000-ton para-aramid project has now gone through relevant administrative review and approval procedures and commenced civil construction. It is expected to complete construction, delivery, and installation in September, and then be put into operation in April 2020. By the time, it will fill in the industrial blank in China and break the market monopoly by DuPont and Teijin, making it China’s first, as well as the world's third-largest, para-aramid producer and supplier with independent intellectual property rights.