Fujian Hexin Packaging to Invest RMB 460 Million in New Smart Paper Packaging Project
On July 15, Hexing Packaging issued an announcement stating that its controlled subsidiary Fujian Hexin Packaging Co., Ltd. and the Fujian Changtai Economic Development Zone Management Committee signed on July 14 the "Reservation Agreement for the Transfer of Enterprise Land Use Rights" concerning the Zhangzhou Changtai Intelligent Eco-Friendly Packaging Project.
According to the agreement, Fujian Hexin Packaging Co., Ltd. plans to invest in and build an intelligent eco-friendly paper packaging project within the Zhangzhou Changtai Economic Development Zone. The total project investment is about RMB 460 million, with production and operation to be carried out through phased self-construction, and an average investment intensity of no less than RMB 3 million per mu.
The land parcel that the Fujian Changtai Economic Development Zone Management Committee has reserved for transfer to Fujian Hexin Packaging Co., Ltd. is located within the Guanshan Industrial Park of the Changtai Economic Development Zone, east of Anhua South Road and north of Nankeng Reservoir, with a land area of about 152 mu within the red line map (subject to the actually surveyed red line map), and the land use is industrial land.
The project is to be developed and built in two phases (100 mu for Phase I and 52 mu for Phase II). The Phase I project is to start construction within 12 months from the date the land delivery is confirmed, and the completion period for Phase I works is within 24 months from the date of commencement; the Phase II project is to start construction within 36 months from the date the land delivery is confirmed, with a completion period of within 24 months from the date of commencement.
Hexing Packaging stated that this project is intended to be undertaken and implemented by its controlled subsidiary Fujian Hexin Packaging Co., Ltd. Fujian Hexin Packaging Co., Ltd. was established in September 2013 in Changtai, Zhangzhou and has achieved good economic returns since starting production; after years of development it has become an important contributor to the company's profits.
At present, the existing plant of Fujian Hexin Packaging Co., Ltd. is limited by area, layout and other factors and can no longer meet the growing needs of the business.
At the same time, the Changtai area has four leading industries — optoelectronic lighting, paper packaging, machinery manufacturing and stationery and sporting goods — and already has a substantial industrial base and a cluster of well-known enterprises, with strong packaging demand. The implementation of this project will strengthen Hexing Packaging's production capacity in Zhangzhou and surrounding areas and consolidate and enhance its local market share.
——This article is reproduced from China Packaging Network (pack.cn), original link: http://news.pack.cn/show-377847.html
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