Project Cooperation: Korea'S Taiguang Industry With An Annual Output Of 108000 Tons Of Differentiated Spandex Project Landed In Ningxia

Contract signing site. Photo by Yu Jing

On the evening of August 8, in the presence of Liang Yanshun, Secretary of the Party committee of Ningxia Hui Autonomous Region and director of the Standing Committee of the National People's Congress, Zhang Yupu, deputy secretary of the Party committee of the Ningxia Hui Autonomous Region and chairman of the autonomous region, Jin Hangui, Consul General of the South Korea embassy in China and director of the China Office of the South Korea municipal governors agreement, etc, Tao Shaohua, director of Ningxia Ningdong energy and chemical industry base management committee, and Ge Zaishu, President of Taiguang chemical fiber (Ningxia) Co., Ltd., respectively signed the project cooperation framework agreement on behalf of Ningdong energy and chemical base management committee and Taiguang chemical fiber (Ningxia) Co., Ltd., and exchanged signed texts. The move marks the official landing of the differential spandex project with an annual output of 108000 tons in South Korea.

Meet the scene. Photo by Yu Jing

It is reported that the signing project is one of the activities of China (Ningxia) · South Korea Friendship Exchange week, which will be held in Yinchuan from August 8 to 11 in a combination of online and offline ways. Representatives of South Korea Consulate General in Xi'an and other Chinese agencies in China and senior executives of Korean Enterprises will be invited to attend the event, and a number of cooperation agreements in the fields of economic and trade investment, international sister cities and educational exchanges will be signed.

Liang Yanshun (right), Secretary of the Ningxia Hui Autonomous Region Party committee and director of the Standing Committee of the National People's Congress (right), and Kim Han Kwai, Consul General of South Korea in Xi'an (left), exchange souvenirs. Photo by Yu Jing

Spandex is one of the most elastic synthetic fibers at present. It has excellent fatigue resistance and elastic recovery. It has long-lasting elasticity and does not deform. It occupies a very important position in the development of new textile products. It is also gradually promoted and applied in medical and automobile industries.

Established in 1950, Taiguang Industry Co., Ltd. of South Korea started from chemical fibers such as polyester, nylon and spandex, and gradually expanded to textile industries such as spinning, weaving and weaving, and has become the largest comprehensive chemical fiber manufacturer in South Korea. In recent years, Ningdong base has successively introduced two spandex production enterprises, Taihe new materials and Korea Xiaoxing, and extended the upstream and downstream supporting projects, such as wuheng chemical 230000 tons / year 1,4-butanediol, Wanhua chemical 300000 tons MDI separation, Penglai Hongwei 41000 tons spandex functional additives, etc., initially built the whole spandex industry chain, and the spandex industry agglomeration effect gradually appeared.

The project landed in Ningxia is a strong chain project of high-performance fiber and biodegradable plastics industry chain. Taiguang chemical fiber (Ningxia) Co., Ltd., a wholly-owned subsidiary of Korea Taiguang chemical fiber (Ningxia) Co., Ltd., was registered in Ningdong base. The project plans to build a differential spandex project with an annual output of 108000 tons, with a planned investment of 4.468 billion yuan and a planned land area of 500 mu. The main products are 51000 tons of 20d spandex, 16200 tons of 30d spandex and 40800 tons of 40d spandex. The project will be constructed in three phases, with an annual production capacity of 36000 tons. The first phase of the project is planned to be completed in August 2024, and the second phase is planned to be completed in August 2025, The project will be completed in August 2026.

In recent years, Korea's Xiaoxing group, Taiguang chemical fiber and other large enterprises have successively come to invest in Ning. As of May this year, there were 33 Korean direct investment enterprises in Ningxia, and the actual use of Korean capital in Ningxia was 120 million US dollars. The investment fields of South Korea in Ningxia covered spandex manufacturing, computer software development, sapphire crystal, technical goods import and export, etc. In 2021, the total import and export volume of Ningxia to South Korea is 1.46 billion yuan, with a year-on-year increase of 105.6%.

(source: China News Network)