Hailiang Stock invests in production line project for precise copper tube of 90,000tpy.
2017-03-14 11:42:09 [Print]
The management committee of Shizishan High-tech Zone has recently signed supplement agreement on investment in Hailiang Copper industrial park with Zhejiang Hailiang Stock Co., Ltd., marking the formal start for Phase II project of Hailiang (Anhui) Copper Co., Ltd. Hailiang Stock intended to invest another RMB500 million in construction of production line project for precise copper tube of 90,000tpy. After the completion of the project, newly added revenue will increase RMB2 billion with taxation of RMB10 million. The project has been in preparation at present.
Hailiang (Anhui) Copper Co., Ltd. is a wholly owned subsidiary of Zhejiang Hailiang Stock Co., Ltd. and mainly produces environmentally precise copper tube of high performance and low energy consumption. The company has achieved output of RMB12.5 billion with taxation of RMB49.91 million after the Phase I project achieved full capacity. On Sep 20, 2016, Hailiang Stock approved the investment agreement on Hailiang (Anhui) Copper’s Phase II project of production line project for precise copper tube of 90,000tpy, which is located in reserved land of the company with coverage of about 180 acres. The first precise copper tube production line of 30,000tpy covers investment of RMB270 million, which will be completed before Dec 30, 2017 and the other two covers total investment of RMB230 million, which will be completed before late 2020 according to the market.
Hailiang (Anhui) Copper Co., Ltd. is a wholly owned subsidiary of Zhejiang Hailiang Stock Co., Ltd. and mainly produces environmentally precise copper tube of high performance and low energy consumption. The company has achieved output of RMB12.5 billion with taxation of RMB49.91 million after the Phase I project achieved full capacity. On Sep 20, 2016, Hailiang Stock approved the investment agreement on Hailiang (Anhui) Copper’s Phase II project of production line project for precise copper tube of 90,000tpy, which is located in reserved land of the company with coverage of about 180 acres. The first precise copper tube production line of 30,000tpy covers investment of RMB270 million, which will be completed before Dec 30, 2017 and the other two covers total investment of RMB230 million, which will be completed before late 2020 according to the market.
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