Huayang plans to build a thousand-ton carbon fiber project

On January 6, Huayang Co.
, Ltd.
announced that the company intends to establish a joint venture with Shanxi Huayang Capital Holdings Co.
, Ltd.
, Taiyuan Chemical Industry Group Co.
, Ltd.
, Datong Economic Construction Investment Group Co.
, Ltd.
and Datong Yunfeng Asset Management Co.
, Ltd.
, responsible for purchasing the technology of the Shanxi Institute of Coal Chemistry of the Chinese Academy of Sciences and carrying out the first phase of 200 tons/year demonstration project
of high-performance carbon fiber in the 1,000-ton class.
The registered capital of the joint venture is 900 million yuan, and Huayang shares contributed 360 million yuan, accounting for 40%.

The joint venture will build a 200-ton/year high-performance carbon fiber production line and supporting utilities and auxiliary facilities for the first phase of the project, and put it into full operation, with an estimated total investment of about 682 million yuan
.
In the later stage, the project also plans to build facilities
such as a high-performance carbon fiber production line with an annual output of 1,000 tons.