China XD Advances $357-million biocomposites plant

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In China, China XD Plastics Company Limited says it has formally signed a land-use agreement with the People’s Government of Shunqing District, Nanchong City, Sichuan Province for China XD’s previously announced biocomposite and additive manufacturing plant. The 2.5 billion RMB (USD357 million) plant will have the annual capacity to produce 300,000 metric tons of biocomposite materials and additives and 20,000 metric tons of functional masterbatch, a color additive process. The site is expected to cover more than 40 acres.

China’s Made in China 2025 initiative and Thirteenth Five-Year Plan both cite biocomposite materials and additive manufacturing as key technologies, according to China XD. The project will benefit from “favorable tax policies” under China’s Go West Campaign that incentivizes manufacturing in Southwest China. China XD’s modified plastics are primarily sold into automotive applications.