Pingyao to build graphene industrial park

A signing ceremony for the planned Pingyao Graphene New Materials Industrial Park takes place in Pingyao county on May 20. [Photo/pingyao.gov.cn] 

A signing ceremony for the planned Pingyao Graphene New Materials Industrial Park was held in Pingyao county in North China's Shanxi province on May 20.

The graphene industry has ushered in great developments in China in recent years for its broad application prospects in batteries, sensors, semiconductor devices, electronics information and in the biomedicine sectors. 

More graphene industrial clusters have sprung up in China with government policy encouragement and the domestic graphene market size is expected to reach 102.6 billion yuan ($14.42 billion) by 2021, officials said.

To seize development opportunities, the Pingyao Economic and Technological Development Zone decided to develop the Pingyao Graphene New Materials Industrial Park, which will fill a gap in Pingyao's graphene industry and lay a solid foundation for the development zone's new materials industrial cluster.

The Pingyao Graphene New Materials Industrial Park, which will cost a total of about 2 billion yuan, is being jointly built by Shandong Kangyangzhijia New Materials Technology Co and Pingyao Siruiwo Heavy Industry Co and consists of several sub-projects. 

Representatives of Pingyao county government and the developers of the Pingyao Graphene New Materials Industrial Park shake hands at the signing ceremony, on May 20. [Photo/pingyao.gov.cn]

The sub-projects of the park signed on May 20, namely graphene-modified far infrared heating slurry and automatic production equipment for graphene electrothermal film, will see an investment of some 1 billion yuan and will be built in two phases.

The first-phase sub-projects, covering over 6.6 hectares, consists of four production lines and are expected to generate 4 billion yuan in annual sales, 480 million yuan in annual profits and 300 million yuan in annual tax and create more than 110 positions once completed.

The second-phase sub-projects include two production lines and are expected to create annual sales of 6 billion yuan, annual profits of 720 million yuan and generate annual tax payments of 450 million yuan.

Officials said the park is of great significance to Pingyao in its industrial upgrading and economic transformation, according to Shi Yong, head of Pingyao county. 

Officials said that Pingyao county, together with the development zone, will provide the highest quality services for the park and create a strong business environment throughout the whole construction process to facilitate the park's start of operations and production as soon as possible.