Baotou, China – China’s Jinjiao High-Tech (Shanghai) signed contract with the local government of Baotou, Inner Mongolia in October to set up a new chloroprene rubber plant.
Located at the city’s Rare Earth New Materials Industrial Park covering an area of 667,000 square metres, the plant has €637 million (5.1 billion yuan) total investment and will be built in three phases.
According to local government website, phase one has €250 million investment earmarked with 30ktpa planned capacity.
Depending on market and other conditions, Jinjiao High-Tech will pump €200 million and €187 million into phases two and three with 70ktpa and 50ktpa capacity respectively.
The company is also mulling €56 million additional investment for transmission belt, impregnated medical gloves, hydrogenated polymer and waterproof coating facilities in the city if the chloroprene rubber project is successful, said the government website.
Backed by Jinzhong, Shanxi-headquartered gelatin foods group Jinjiao, the Shanghai high-tech arm was opened in 2012 with businesses covering chemical raw materials, energy saving materials and high polymer composites.