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On March 12, Shanghai Feikai Materials Technology Co., Ltd. issued a announcement stating that the company intends to sign an Investment Agreement with the Management Committee of Anhui Dongzhi Economic Development Zone. It plans to use its own funds to acquire approximately 300 mu of land designated for chemical industries in this economic development zone, in order to build a new production facility for Feikai Materials in Chizhou. The total investment in the project is approximately 1 billion yuan, of which about 800 million yuan is for fixed asset investment. The project is planned to be implemented in two phases, with an estimated construction period of two years for each phase ; It is planned to build multiple production lines suitable for the synthesis of various types of organic materials, along with the corresponding utility facilities. FeiKai Materials stated that the project is in line with the company’s strategic focus on its core business in new materials; it provides an adequate physical platform for developing new products in this area, which helps to further enhance the company’s overall competitiveness and its position in the industry.
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