Two magnesium alloy projects to break ground in Lanxi
2024-11-05 17:04:53 [Print]
On October 29, the signing ceremony for a 300,000-piece Mg-Al wheel and 7,000tpa magnesium material project with a total investment RMB500 million (USD70.37 million) was held in Lanxi High-Tech Zone of Zhejiang.
The project, focusing on R&D and production of high-quality magnesium-aluminum wheel, folding bed and chair, outdoor furniture and equipment parts, is expected to achieve annual production value of RMB600 million (USD84.44 million) when fully operational.
On October 30, another magnesium material project with total investment of RMB1 billion (USD141 million) was also signed to break ground in Lanxi High-Tech Zone. When fully coming on stream, the project is expected to achieve annual production value of RMB1 billion (USD141 million) along with tax revenue of no lower than RMB37.5 million (USD5.28 million).
The two projects would help boost the development of magnesium materials industry in Lanxi and speed up the establishment of magnesium material industrial cluster.
The project, focusing on R&D and production of high-quality magnesium-aluminum wheel, folding bed and chair, outdoor furniture and equipment parts, is expected to achieve annual production value of RMB600 million (USD84.44 million) when fully operational.
On October 30, another magnesium material project with total investment of RMB1 billion (USD141 million) was also signed to break ground in Lanxi High-Tech Zone. When fully coming on stream, the project is expected to achieve annual production value of RMB1 billion (USD141 million) along with tax revenue of no lower than RMB37.5 million (USD5.28 million).
The two projects would help boost the development of magnesium materials industry in Lanxi and speed up the establishment of magnesium material industrial cluster.
Magnesium Alloy AM60B FOB China
Unit:USD/mt
China magnesium alloy producers' number MoM output increase statistics by month
Unit: pcs
