Haikou, Hainan – Chinese natural rubber producer Hainan Rubber Group has entered into strategic partnership with theme park developer Overseas Chinese Town (Hainan) Group to build a National Rubber Park.
The park features “rubber, culture and tourism” and will “help the company transform its natural rubber business, raise operational efficiency and improve brand perception,” said a Hainan Rubber statement 20 May.
The rubber producer will allocate roughly 267 million sqm rubber plantations in several locations in Hainan province for the project, the company told ERJ.
A joint venture will be set up in Haikou, Hainan to operate the park. The two parties have not decided on size of the investment and other project details.
Overseas Chinese Town (Hainan) Group is a fully owned subsidiary of Overseas Chinese Town Group, a top four theme park company worldwide for six consecutive years, said the announcement.
Hainan Rubber posted €883 million (6.8 billion yuan) revenue, down by 38% from 2017.
The company had €30 million net profit during the year, compared to €88 million net loss in 2017.