Zhongfeng Chemical’s project on the annual production of 20,000 tons of cellulose acetate is completed.
Zhongfeng Chemical Co., Ltd. for Ciyan Life Science and Technology Co., Ltd. (Department of Jinan New Natural Materials Co., Ltd. Hong Kong holding company), Jinan Nature New Materials Co., Ltd., and Yankuang Cathay Pacific Acetyl Chemical Co., Ltd. jointly established a joint venture with a total investment 190 million yuan to build an annual output of 30,000 tons of cellulose acetate project. Construction of the project in two phases, of which an annual output of 20,000 tons, two with an annual output of 10,000 tons. After the completion of the first phase of the project, it is estimated that annual sales income will be 330 million yuan, profits and taxes will be 31 million yuan and 120 new jobs will be added. The market prospect is bright with outstanding economic and social benefits.