Flagchem to establish subsidiary in charge of implementing its 15,500-ton novel pesticide technical project, with a total investment of Yuan2 billion

Date:06-23-2020

On 16th June, 2020, the Chinese agrochemical company, Jiangsu Flag Chemical Industry (Flagchem), together with Jiangsu Easter Investment Management, jointly invested in the establishment of a project to construct and operate an annual 15,500-ton novel pesticide technical project and related productions.

Flagchem will use an authorized patent technology and its own generic technology to launch a 15,500-ton novel pesticide technical project and related productions, which will be constructed in six years, to be implemented over two phases. The total investment in the project of roughly Yuan 2 billion includes Yuan1.8 billion on fixed assets. The project is located in the Anhui (Huaibei) Novel Coal Chemical Synthetic Material Base, and has an area of some 28 hectares of industrial land.

Flagchem stated that the implementation of the project will further optimize its product structure, which is expected to enhance its business strength. Upon completion of the project, the company’s production scale and product line will be more diversified, therefore, forming a synergy between its product range. This will greatly increase the company’s profitability and provide more economic benefits.