Oriental Yuhong invests 600m yuan in new materials project

Beijing Oriental Yuhong Waterproof Technology Co., Ltd. (Oriental Yuhong) has announced a 600m yuan investment in the Oriental Yuhong Shanglin New Materials Industrial Chain Project in Shanglin County, Nanning City, Guangxi Zhuang Autonomous Region. The project, which will be implemented by its subsidiary Nanning Oriental Yuhong New Materials Co., Ltd., aims to integrate upstream mineral resources, deep processing, and product development, including decorative marble slabs and special mortars.

As part of the initiative, Nanning Oriental Yuhong successfully bid 26,700万元 for the mining rights to the decorative grey rock mine in Shiweng Village, Tanghong Township, Shanglin County. The project will be developed in phases, with initial construction on 50 mu of land for high-end papermaking limestone products and decorative grey rock high-end plates, followed by a second phase on another 50 mu for special mortars. The total land area is approximately 100 mu.

The project is projected to generate an annual output value of approximately 800m yuan and annual tax contributions of approximately 40m yuan upon completion. Construction is expected to commence within three months of land acquisition and achieve production within 18 months.