# Eastern Shenghong subsidiary to invest ¥6.655B in 1M-tonne functional fiber project

Eastern Shenghong's subsidiary Honghai New Materials plans to invest ¥6.655 billion to build a 1 million-tonne-per-year intelligent functional fiber project in Suqian, China, to be implemented in two phases over 4 years.

- Type: Investment
- Announced: 2022-03-23
- Where: Suqian, China
- Value: $1.04B (6.66B CNY)
- Status: announced
- Capacity: 1,000,000 tonnes per year
- Products: functional polyester filament yarn
- Sectors: [Industrial Textiles](https://endata.com/sectors/industrial-textiles.md)

## Companies

- [Eastern Shenghong](https://endata.com/companies/60279.md)
- [Honghai New Materials (Suqian)](https://endata.com/companies/61786.md)

## Sources

- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/686511.html), 2022-03-23: "公司的二级全资子公司虹海新材料(宿迁)有限公司拟投资建设年产100万吨智能化功能性纤维项目。"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.