On the morning of August 1st, the opening ceremony of recycled PET (polyethylene terephthalate) project of Jiangsu Lide Plastic Manufacturing Co., Ltd. was held in Liyang Shanghuang Science and Technology Park.

This is one of Liyang’s major projects to integrate into the development of Changzhou and conduct industrial transfer. It plays a leading role in the green development of new material industry.

It is reported that the project investment is 300 million yuan in the first phase, and the equipment investment is 100 million yuan. It covers an area of 70 mu (4.7 hectares), and the workshops take 25,000 square meters. The annual output of recycled PET is about 200,000 tons, with estimated taxable sales of 800 million yuan. The products are mainly exported to southeast Asia, Europe and the United States.

The first phase of the project will be completed and put into production around the Spring Festival next year. After that, the second phase of the investment will be launched, forming a 200 mu-large production base (13.3 hectares) with a total investment of 1 billion yuan and annual output value of 3 billion yuan.