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Huafon Chemical Secures Land for 3.6-Billion-Yuan Spandex Project

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Huafon Chemical (SHE:002064) obtained land use rights for part of its planned 3.6-billion-yuan annual 200,000-ton high-performance low-carbon digitalized spandex expansion project in Zhejiang, China.

The certificates cover 109,798.3 square meters and 45,669.1 square meters of industrial land, with a 50-year term expiring in August 2076, according to a Wednesday filing with the Shenzhen bourse.

Some additional land remains to be acquired.

Shares of the chemical company were down 1% in recent trade.

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