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It has been reported that this project is one of Jiangxi Province strategic new industrial key projects with a total investment of 900 million Yuan (US$ 137.25 million). After the project put into production and operation, the annual gross profit may reach 450 million Yuan (US$ 68.63 million).
The project will build two 50,000 ton tank furnace fiber drawing production lines. After the entire project complete construction and put into standard production, there will be a 100,000 ton alkali-free glass fiber and products production capacity with an expected annual sales income of over 1.6 billion Yuan (US$ 244 million).
In recent years, fiber glass composite materials has become Shangrao County main industry based on the county’s industrial foundation and market demand. Shangrao County has been approved to be Jiangxi Province fiber glass new composite material industry base and China fiber glass new composite material industry cluster development demonstration base. Fiber glass composite material has been confirmed by the Jiangxi Provincial government as one of the 60 key industrial clusters in this province.