Major Taiwan-Funded Aluminum Foil Project at Three Gorges AreaConstruction has started on a solely Taiwan-funded project for producing electronic aluminum foil in Yichang City, in central China's Hubei Province.The project is being funded by Capxon Electronic Industrial Co.Ltd. at a cost of 40 million U.S. dollars. So far it is the largest Taiwan-financed business in the Three Gorges area, said local sources. According to the sources, the project, covering an area of 13.47 hectares, will require installation of 52 production lines and an annual consumption of 300 million kwh of electricity. On completion and operation in 2002, the project will be able to churn out 800 million yuan (about 96.39 million U.S. dollars) in output value and generate 10 million yuan (about 1.21 million U.S. dollars) in taxes. Capxon, which is also a conglomerate that combines production, and trading, is now the world's fourth largest producer of condensers and its annual output value amounts to 1.6 billion yuan (about 193 million U.S. dollars). A corporate executive explained that they chose Yichang as the location of the aluminum foil project because they are confident of the power supply in this city, where many hydropower stations are located, including the gigantic Three Gorges Project now under construction, and the Gezhouba water conservancy project. |
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