Nanning, Guangxi – Scisky, also known as Ketian, is to start construction of its new waterborne PU industrial park in Nanjing, Guangnxi with CNY2.9bn ($421m) investment earmarked, according to a local government filing.
The company’s first such park was started in 2014 in Lanzhou, Gansu. Construction of the second park will start in April or May and is expected to finish in 2019, the company told UTECH-polyurethane.com.
The new site will house facilities for waterborne PU materials and products, including 100kT/year capacity for resin, 100kT/year for coatings, 1bn unit/year for condoms, 150,000 set/year for furniture, 20m metre/year for microfiber leather, 5m square metre/year for faux wood floor and over 10m piece/year for various boards.
Located in Nanning’s Guangxi ASEAN Economic and Technological Development Zone, the park is eyeing the ASEAN market and hoping to attract furniture manufacturers, home furnishing firms and other downstream companies to build a comprehensive cluster.
“This means Scisky has embarked on the fast track – now we’ll have strategic presence in both Lanzhou and Nanning, two pivotal cities for China’s One Belt One Road Initiative,” said Scisky Group’s chairman Dai Jiabing in a report on local government website.
The park is predicted to create 2,000 new jobs and generate CNY570m annual profit on CNY7.7bn sales when in operation, said local government website.
Exchange Rates: Xe.com 3 April, 2017