Shandong Cynda Chemical to build pesticide and formulation plant
Date:10-24-2017
Shandong Cynda Chemical announced its decision to invest Yuan100 million to establish a wholly owned subsidiary—Liaoning Cynda Agrochemical Science and Technology Ltd.—on October 14.
Meanwhile, a total investment of Yuan1.2 billion is planned for a 16,000-ton pesticides and formulation production facility in the Huludao Economic Development Zone, as an extension to its existing capacity and industrialization of new product varieties.
The announcement said the company's existing production base has limited space, which is unable to meet the needs of future development at the company. Northeast China is an important pesticide market in China, where establishment of a new project is in line with the company's strategic development requirement. The implementation of the project will effectively solve the problem of limited space, which is currently restraining the company's business operation and development.
The project construction period is expected to be 48 months.
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