News

15 carbon-fiber projects signed at Pujiang forum

Sep 16, 2019

Agreements on 15 projects in the field of carbon fiber were signed at the 2019 Pujiang Innovation Forum in Shanghai on Thursday, aimed at setting up factories and related facilities in Jinshan District, with a total investment of 7 billion yuan (US$1 billion).

The suburban district also announced 15 policies on the development of carbon fiber at the forum.

Sinopec Shanghai Petrochemical Co Ltd plans to set up a plant to manufacture 48k carbon fiber in Jinshan. Once in operation, the new factory will be able to produce 12,000 tons of 48k carbon fiber, which is widely used in offshore wind turbine blades, metro, automobile and energy industries.

Last year China imported 30,000 tons of 48k carbon fiber. With the new factory on stream, the cost of the raw material is expected to drop by at least 20 percent.

Jinshan also plans to set up a carbon fiber industrial base at Jinshan No. 2 Industrial Park covering a total area of 10 square kilometers. The revenue of the carbon fiber industry is expected to exceed 10 billion yuan in 2025; and rise above 40 billion yuan in 2035.

Earlier on September 5, the Jinshan government signed an agreement with Sinopec Shanghai Petrochemical and Donghua University at Xijiao State Guest House in Shanghai to set up an innovation research institute for carbon fiber composite material.

The institute, to be based in Jinshan, will serve as a research, development and transformation platform in Shanghai and is part of a national strategy to make the city a center of innovation.