Fortune Global 500 company to build polyester industrial park in northeast China

Hengli Group, a Fortune Global 500 company based in east China's Jiangsu province, has started the construction of its new polyester science and technology industrial park in Changxing Island in the northeastern Chinese city of Dalian.

The park will be built in three phases and it aims to establish major industrial chains covering degradable materials, functional polyester materials, high-performance resin materials, high-end fiber materials and new energy materials, the company said.

With a total investment of about 26 billion yuan ($4 billion), the Phase I construction project of the park is expected to generate 42 billion yuan worth of annual output value after being put into operation in 2023.

The Phase I project includes production lines with an annual output of 2.6 million tonnes of functional polyester and 1.6 million tonnes of high-performance resin as well as supporting facilities like a wharf.

Hengli Group plans to build the park into a globally influential eco-friendly industrial base, thereby fueling northeast China's revitalization.