RUDONG, Jiangsu: Singapore RGM International has signed an agreement with the local government to launch a $1.33 billion dissolved pulp and viscose rayon project at Rudong Yangkou Port.
The solely funded project, signed at the first coastal economic cooperation fair held in Rudong, aims to make imported wood chips into dissolved pulp as raw material for the textile industry in the Yangtze River Delta.
It is designed to produce 400,000 tons of dissolved pulp annually, with a part of it used by a new viscose rayon plant to be built in the port and the rest sent to other plants in the delta, said Chen Changhua, director of the Yangkou Port Economic Development Zone's management committee. "The heavily funded project is waiting for approval from the central and local governments."
RGM International had already planned to invest 9 billion yuan in launching LNG and other related projects in the port area before considering the dissolved pulp and viscose rayon project.
"The port has become a favorable location for our overseas strategic expansion," said Huang Jinping, chief representative of RGM International Beijing Office.
Yangkou Port enjoys the advantage of building 62 deepwater berths for 50,000- to 300,000-tonnage ships.
Rudong Party secretary Zhou Tiegen said the port project will be developed in two phases, with the first phase put into operation in 2008 when two to three wharves are completed.
He said 200 billion yuan will be injected into the port's development in the next 10 years.
Source: China Daily
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