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The Yike High-End Polymer New Materials project in the Dongying District Chemical Industry Park is accelerating its progress. The first phase of the project involves the construction of facilities for producing 450,000 tons per year of high-end resins and related products. The ABS engineering plastic is manufactured using the ‘bulk method’, a production process that is environmentally friendly; the resulting products have a wide range of applications. Once operational, these facilities will enable the substitution of imported high-end products. In 2021, after its establishment, Shandong Yike Chemical Co., Ltd. began to focus on the processing of high-end new materials. The Yike High-End Resin New Materials Industrial Park project is planned to require an investment of 6 billion yuan and cover an area of 530 mu. It will include facilities for producing 450,000 tons per year of high-end resins and related products, 50,000 tons per year of high-performance styrene-butadiene latex, and 150,000 tons per year of engineering plastic modifiers and related products. These facilities will be able to replace imported products of similar kind, breaking foreign monopolies. Not only will this enhance China’s influence and speaking power in the new materials industry and help establish a high-level innovation and R&D system in this field, but it will also meet the strategic needs related to ecological civilization development and the Yellow River basin. It will further boost the economic development of Dongying District and stimulate the growth of other industries such as transportation, telecommunications, finance, and culture and education. After going through stages such as the construction phase, pile foundation construction at the plant site, road construction at the plant site, foundation construction for the tank area, wall construction, and the relocation of above-ground structures including oil wells and water wells, the project has now entered the stage of assembling process pipelines. If everything goes well, trial production is planned to start in June.