RMB1-billion-value Mg-alloy hub project to settle in Macheng
2019-07-02 16:28:23 [Print]
On June 28, an investor-team headed by Sun Qian, Vice President of China Nonferrous Metals Industry Association (CNIA), visited Macheng on a mission of investigating potential investment destinations.
Of the two proposed projects the team intended to invest in, one was a Mg-alloy hub project which has a proposed annual production capacity of 1 million hubs. The team and Macheng government held in-depth communication on issues on land rights, electricity, environmental impacts, taxation and preferential policies. Both sides reached a framework agreement on cooperating on the Mg-alloy hub project and planned to sign the formal agreement in mid-July.
The proposed Mg-alloy project consists of production lines on full automatic hub forging, machine processing and coating, and will have an annual production capacity of 1 million hubs. Its total investment is RMB1 billion (USD146 million), of which RMB600 million (USD87.44 million) is earmarked for production equipment. The project will have a total land area of 200 Mu (about 13.33 hectares) and will be built in two stages. Stage One, have a land area of 100 Mu (about 6.67 hectares) and a building area of 25,000m2, will go into construction in October 2019 with a construction cycle of ten months; and when it's built, it will have an annual production capacity of 500,000 Mg-alloy hubs and a production value of RMB600 million (USD87.44 million). Stage Two is proposed to go into construction in October 2020 with a construction cycle of about ten months. When the whole project is built, it will have an annual production capacity of 1 million Mg-alloy hubs.
Of the two proposed projects the team intended to invest in, one was a Mg-alloy hub project which has a proposed annual production capacity of 1 million hubs. The team and Macheng government held in-depth communication on issues on land rights, electricity, environmental impacts, taxation and preferential policies. Both sides reached a framework agreement on cooperating on the Mg-alloy hub project and planned to sign the formal agreement in mid-July.
The proposed Mg-alloy project consists of production lines on full automatic hub forging, machine processing and coating, and will have an annual production capacity of 1 million hubs. Its total investment is RMB1 billion (USD146 million), of which RMB600 million (USD87.44 million) is earmarked for production equipment. The project will have a total land area of 200 Mu (about 13.33 hectares) and will be built in two stages. Stage One, have a land area of 100 Mu (about 6.67 hectares) and a building area of 25,000m2, will go into construction in October 2019 with a construction cycle of ten months; and when it's built, it will have an annual production capacity of 500,000 Mg-alloy hubs and a production value of RMB600 million (USD87.44 million). Stage Two is proposed to go into construction in October 2020 with a construction cycle of about ten months. When the whole project is built, it will have an annual production capacity of 1 million Mg-alloy hubs.
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