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Taizhou chemical new materials park ramps up construction

etaizhou.gov.cn|Updated: January 23, 2024

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Things get even busier at the chemicals new materials industrial park in the Taizhou Medical High-tech Zone. [Photo/WeChat account: CZBJ_2018]

A high-end lubricant and special oil plant in the chemicals new materials industrial park – located in the Taizhou Medical High-tech Zone, in Taizhou, East China's Jiangsu province – was recently listed among 2024 major projects in Jiangsu.

With a planned total investment of 3.8 billion yuan ($528.34 million), the project is being operated by CNOOC Taizhou Petrochemical Co Ltd. It aims to become China's biggest full-range high-end lubricant industrial base, with an annual output of 1.4 million metric tons. When complete, it is expected to increase the group's tax revenue by 385 million yuan.

Overall, in recent years, the industrial park has focused on promoting major projects for its high-quality development.

Another major venture is an integrated lithium battery and systems plant being funded by Shenghong Group, a Fortune 500 company, which aims to create a complete industry supply chain from key lithium battery raw materials, cells, modules to terminals. Its first batch of battery cell products has already been exported overseas.

The new Jiangnong new materials plant is another major project in the industrial park. With a total investment of $60 million, it was signed, constructed, completed and put into production in the same year.

It aims to recycle and process ammonium sulfate powder from the coking and electric power industries to achieve the efficient reuse of resources.

In 2023, the industrial park signed up a total of 13 major projects, each worth over 500 million yuan.

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