Ningxia's largest foreign investment project settled in Ningdong Base

On December 29 , the Ningdong Energy and Chemical Base Management Committee and Hyosung Group of South Korea signed a cooperation agreement on spandex and its raw material supporting projects, planning to build an annual output of 360,000 tons of spandex and 300,000 tons of polytetrahydrofuran (PTMG) spandex raw materials.

On December 29 , the Ningdong Energy and Chemical Base Management Committee and Hyosung Group of South Korea signed a cooperation agreement on spandex and its raw material supporting projects, planning to build an annual output of 360,000 tons of spandex and 300,000 tons of polytetrahydrofuran (PTMG) spandex raw materials.

Chen Runer said that after years of development, Hyosung Group has established multiple production bases around the world, formed a complete international industrial network, and created many brilliant achievements.

Lee Jae-woo, chairman of the South Korean Hyosung Group in China, said that through preliminary inspections, Hyosung Group believes that investing in Ningxia is a very good choice.

It is understood that this project is the largest foreign investment project in Ningxia's history, and it is a "zero" breakthrough in the wholly foreign-owned project of Ningdong Base.
The implementation of the project actively integrates the Ningdong base into the "dual cycle" development pattern and the "One Belt One Road" strategy, achieves a higher level of opening up, promotes the development of the industry to high-end, green, intelligent, and integrated directions, and achieves economic development.
The reasonable growth and steady improvement of quality of the country are of positive significance.