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At noon on August 13, Oriental Yuhong announced that on August 13, 2020, the company signed a "Project Investment Agreement" with the Hainan Yangpu Economic Development Zone Management Committee.
The agreement stipulated that the company plans to invest 1 billion yuan in Hainan Yangpu Economic Development Zone.
The development zone invested in the construction of the Oriental Yuhong Hainan Yangpu Green New Material Comprehensive Industrial Park project
.
The construction of the project is carried out in two phases, one of which is a green new material production and manufacturing base project with a planned investment of 350 million yuan and a planned land area of 80 mu.
After completion, it is expected to have an annual output value of 400 million yuan and a tax contribution of 40 million yuan
.