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Zhejiang Youcheng Project with Annual Production of 750,000 Tons of Lactic Acid and 500,000 Tons of Polylactic Acid Settled in Chongzuo, Guangxi
On 1st November 2019, Zhejiang Youcheng Holding Group Co., Ltd. and the People's Government of Chongzuo City formally signed “Investment Cooperation Agreement on Guangxi Polylactic Acid Degradable Bio-based New Material Industrial Base Project”. Xu Youzhong, Chairman of Zhejiang Youcheng Holding Group Co., Ltd. and He Liangjun, Mayor of Chongzuo City signed the agreement on behalf of both sides. Qin Rupei, Member of the Standing Committee of the CPC Guangxi Zhuang Autonomous Region, Executive Vice Chairman of Guangxi Zhuang Autonomous Region, Liu Youming, Secretary of the CPC Chongzuo Municipal Committee, Director of Chongzuo Municipal People’s Congress, Yang Chunting, Secretary of the Party Leadership Group & Director of the Investment Promotion Bureau of Guangxi Zhuang Autonomous Region and other leaders attended and witnessed the signing ceremony.
The recent total investment of the signed PLA degradable bio-based new material industrial base project is about 10 billion RMB, which is used for the construction of the project with an annual output of 750,000 tons of lactic acid and 500,000 tons of polylactic acid. The completion of the project can realize an annual output value of 12.5 billion yuan with an average annual tax increase of about 1.3 billion yuan.
The construction of this project can make full use of the rich bagasse resources and straw fiber resources in Guangxi Province. This Project has a long follow-up industry chain and a broad market prospect. The establishment of this project is of great significance to the long-term development of polylactic acid industry in China.