Rongrong inks deal to build 10.7 billion yuan manufacturing base
A deal to invest 10.7 billion yuan (US$1.5 billion) in an advanced manufacturing base in south China's Guangxi Zhuang Autonomous Region was inked in Shanghai on Friday.
Under the deal, Lingang-based Shanghai Rongrong New Material Technology would build a factory in Guangxi's Baise City to engage in research and development and manufacturing of commercial alumina continuous fiber products.
Upon completion, it is scheduled to produce 12,500 tons of alumina continuous fiber products every year.
Alumina continuous fiber is globally recognized as a new-generation temperature-resistant material, used in aviation, aerospace, petrochemicals, semiconductors, and other high-end sectors.
Rongrong is the first company in China and third in the world to have the industrial capacity to produce alumina continuous fiber. Notably, all equipment and techniques were created by the company.