Fosun Plastics Technology and Sinopec Hunan Petrochemical jointly invested in the construction of a polyamide-nylon film project
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Fosun Plastics Technology (000973.SZ) plans to establish a project company jointly with Sinopec Hunan Petrochemical Co., Ltd. (referred to as Hunan Petrochemical) in Yueyang City, Hunan Province, in order to invest in the construction of a polyamide-nylon film production facility. The company planning to carry out this project intends to have a registered capital of 960 million yuan, with Foshan Plastics Technology holding 60% of the shares and Hunan Petrochemical holding 40%. After its establishment, the project company becomes a holding subsidiary of Fosun Plastics Technology and is included in its consolidated financial statements. The total planned investment for this project is 3.47 billion yuan, to build production lines for polyamide chips and nylon films, with the main focus on manufacturing polyamide chips and nylon film products.
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