On Aug 8, the signing ceremony for the project between Taekwang Industrial Co., LTD and Management Committee of Ningdong Energy Chemical Industrial Base to produce 108,000 tons of differentiated spandex annually was held in Yinchuan, Ningxia.
The signing ceremony for the spandex project [Photo by Luo Jiayao and Qiao Jiaxin]
This project, with an investment of 4.47 billion yuan (about $67 million), is another mass foreign investment project of new materials that landed in Ningxia. The South Korean Hyosung’s spandex project will inject new momentum for the industrial development of Ningxia.
Leaders of Ningxia Hui autonomous region attend the meeting [Photo by Luo Jiayao and Qiao Jiaxin]
Liang Yanshun, secretary of the CPC Ningxia Regional Committee and chairman of the Standing Committee of Ningxia Regional People's Congress, said that this year is the 30th anniversary of the establishment of diplomatic relations between China and South Korea, and hopefully both sides will take this opportunity to further the friendly relations and continuously expand practical cooperation.