New silicone project kicks off in Yichang
2023-03-22 19:03:25
By Ma Yuhan, Yichang International Communication Studio
Yichang has given the green light to a new 5.2 billion yuan (about 750 million USD) silicone project, the latest move in the city’s effort to develop a large-scale silicone industry.
The project, undertaken by Hubei Longqiao Silicon Materials, aims to produce 330,000 tons of silicone products each year. These products are widely used in electronics, construction, the automotive industry and the medical industry. More than 300 jobs will be created when the project goes into operation. It is expected to generate an annual output value of 6 billion yuan with yearly taxation of 800 million yuan.
Yichang is investing in silicone projects as it reorients its economy away from traditional industries to fine chemicals engineering, new energy and new materials, aiming to become a Chinese “Silicone City”.
Yichang has given the green light to a new 5.2 billion yuan (about 750 million USD) silicone project, the latest move in the city’s effort to develop a large-scale silicone industry.
The project, undertaken by Hubei Longqiao Silicon Materials, aims to produce 330,000 tons of silicone products each year. These products are widely used in electronics, construction, the automotive industry and the medical industry. More than 300 jobs will be created when the project goes into operation. It is expected to generate an annual output value of 6 billion yuan with yearly taxation of 800 million yuan.
Yichang is investing in silicone projects as it reorients its economy away from traditional industries to fine chemicals engineering, new energy and new materials, aiming to become a Chinese “Silicone City”.
