Taishan Fiberglass Inc, a 100% subsidiary of Sinoma Science & Technology Co., Ltd, intends to invest RMB 964.5011 million to construct a new generation high modulus and high strength glass fibre production line with an annual production capacity of 90,000 tonnes in Tai'an City, Shandong Province. The proposal was passed by the Board of Sinoma Science & Technology.
The project has a total construction area of 58,409.75 square meters, the main buildings include 9# fiber drawing plant and auxiliary rooms, compounding station, etc. The project will build a new generation high-mode and high-strength glass fibre production line with an annual production capacity of 90,000 tons. The total investment is RMB 964.5011 million, of which RMB 878.9571 is for construction, RMB 15.1489 million is for interest during the construction period and RMB 70.3951 is for working capital. Upon completion, the project is expected to achieve an average annual sales revenue of RMB 713.366 million and profit of RMB 184.528 million, with a total return on investment of 20.34%.
The project adopts a new generation of high modulus and high strength THM glass formula developed independently, and adopts advanced technology and equipment such as thermal power combined with oxygen combustion, automatic fiber loading and unloading, automatic online inspection, etc. The products meet the new demand for glass fiber elastic modulus and tensile strength in the fields of high power wind power blades and offshore wind power, etc. The market prospect is broad.