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China to become third largest Para Aramid producer

26 Dec '11

2 min read

Next to the United States and Japan, China is likely to become the world's third most leading manufacturer of para-aramid, a strong and heat resistant synthetic fibre, by 2015, President of China Bluestar Chengrand Chemical Co Ltd, Mr. Cao Xianjun has said.

Mr. Cao informed that Bluestar Chengrand, an arm of China's largest chemical firm – China National Chemical Corp (ChemChina), now has an annual capacity to produce 1,000 tons of para-aramid fibre, which finds great utility in aerospace industry and with military, and is also used in components for ships, automobiles and high-speed trains.

The firm proposes to set up a production line with a capacity to produce another 10,000 tons of para-aramid per annum and to install new machinery to support production of composite materials out of para-aramid and intends to invest around three billion yuan or US$ 476 million for the same.

When the new line becomes functional in 2015, Bluestar Chengrand would become the world's third largest manufacturer of para-aramid, next to the US's DuPont and Japan's Teijin, Mr. Cao said.

The holding firm has undertaken to build up its strength by investing around seven billion yuan in para-aramid production each year from 2011 to 2015.

The firm would each year divert around 3.5 percent of its annual turnover to its R&D division, and would also look forward to establishing a number of research institutes and R&D bases across China.

ChemChina, which earned 140 billion yuan in sales revenue during last year, looks forward to earn 200 billion yuan from sales each year, for the next five years.