Companies
ChemChina: 50 billion yuan in new Gansu investment
By Song Ping (China Daily)
Updated: 2010-07-13 11:42
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China National Chemical Corp (ChemChina) and the Gansu provincial government signed a strategic cooperation framework agreement in Beijing on July 7 for industrial transformation, construction, a sustainable economy and research and development.
According to the agreement, ChemChina will plan and build a series of major industrial facilities in Gansu for petrochemicals, specialty plastics and polycrystalline silicon at the Bluestar Lanzhou New Material Industrial Park.
The corporation will also accelerate its projects for special fibers and silicon metal, with an aim toward investing 50 billion yuan over five years.
It will also take an active part in Gansu's planning for the petrochemical industry, technological innovation, industrial development and sustainable economy.
Ren Jianxin, ChemChina general manager, said at the signing ceremony that the corporation and the central government's strategic program for further promoting development of western regions in 10 years has provided tremendous opportunities for enterprises.
"The corporation and its subsidiary Bluestar Co have achieved a fast development in Gansu thanks to the great support from local governments at various levels," he said.
Provincial support
Lu Hao, secretary of CPC Gansu provincial committee and chairman of Gansu People's Congress, said signing the agreement is an important step in implementing the nation's development program in western regions.
"We will further deepen cooperation with State-owned enterprises and help them expand in Gansu, which will benefit the province's economy in many ways," he said.
Lu said the corporation and its subsidiary Bluestar Co have several branches in Gansu, that have already contributed greatly to Gansu's economic and social development.
Lu instructed government departments in Gansu to fully cooperate with the branches and new projects.
"I believe we can achieve mutually beneficial results through sincere cooperation," he said.
Ren said the corporation has set up the world's largest chemical-grade silicon metal plant in the Bluestar Lanzhou New Material Industrial Park. A fiber production facility that will be the third-largest in the world will soon go on stream.
"We will closely cooperate with the government and faithfully carry out the projects, with a goal of making contributions to Gansu's development," Ren said.
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