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Sinochem International Signs Cooperation Framework Agreement with Lianyungang City

2017-03-21

In the morning of March 15, Beijing, Sinochem International Co., Ltd. and Lianyungang Municipal People's Government formally signed the Framework Agreement on Cooperation in the Construction of Sinochem Fine Chemical Recycling Economy Industrial Park. With the presence of Sinochem Group Chairman of Board Mr. Frank Ning, Secretary of Lianyungang Municipal CPC and Director of Municipal People's Congress Standing Committee Yang Xingshi, General Manager of Sinochem Int’l Liu Hongsheng and Deputy Mayor of Lianyungang Wang Jiapei signed the framework agreement on behalf of the two sides.

The agreement has intentionally determined the focus of industrial cooperation between the two parties, including but not limited to: the prioritized planning and layout of Sinochem Int’l fine chemical recycling economy industrial park in Lianyungang petrochemical industry base which focuses on the development of new materials and fine chemical products; the research and promotion regarding cooperation of IGCC and multiple co-production demonstration projects; further strengthening the investment and cooperation in the field of liquid chemical wharf and its supporting chemical and energy storage facilities; and the study and promotion on the management, research & talent development centers required to support the planning and construction of the industrial park in Lianyungang. The two parties will set up a working group, identify the responsible leaders and contact departments, establish a bilateral senior management regular meeting mechanism and other measures to coordinate and implement bilateral industrial cooperation.

Mr. Frank Ning said that, the Sinochem International of Sinochem Group is a state-controlled listed company with core competitiveness in the fields of fine chemicals, agrochemicals, chemical logistics, natural rubber, etc. Through the cooperation with Lianyungang this time, both sides will be able to give full play to their respective advantages and speed up the promotion of the development strategies of Sinochem Int’l and Lianyungang City in order to achieve a win-win situation.

Located in the central coastal area of China, Lianyungang City is one of the first batch of coastal open-up cities, the East Bridgehead of New Eurasian Land Bridge, and one of the seven national key petrochemical industry bases. After the “One Belt, One Road” was proposed, Lianyungang has been designated by the state to be the economic corridor node city of New Eurasian Land Bridge, Sino-Kazakhstan logistics transit base and the maritime base of SCO, and identified as the core pilot area of “One Belt, One Road” intersection construction by Jiangsu Provincial Committee and Government. Sinochem International is an important development platform for Sinochem Group's future fine chemical industry. The signing of the framework agreement will further enhance the level of industrial cooperation between the two sides, accelerate Sinochem International’s development strategy and provide the overall support for the future development.

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