Taizhou secures major lubricants project

A major industrial project aimed at strengthening the chemical and new materials sector was signed on March 9 in the Binjiang Industrial Park of Taizhou Medical High-tech Zone.

The project, invested by Sinomine (Tianjin) Lubrication Technology, will produce 800,000 metric tons of lubricating oil and 100,000 tons of grease annually, with a total investment of 1.68 billion yuan ($243.89 million). Its products are expected to be widely used in sectors such as mining machinery, wind power generation and shipping.

Pan Yuming, chairman of the company, said the decision to invest in Taizhou reflects a strategic partnership rooted in trust and a shared vision.

The company plans to make Taizhou its core industrial base, focusing on technological advancement and innovation. It will accelerate breakthroughs in high-end lubrication technologies and push forward the project's early construction and operation.

Pan expressed confidence that, with strong local government support and close cooperation with partners, the company anticipates steady growth in Taizhou and will contribute to the high-quality development of the city's chemical and new materials industries.