Everrising Holdings, a private enterprise headquartered in Zhangjiagang, has recently launched the first phase of its high-performance carbon fiber project through its subsidiary, Shandong Yongcheng New Materials.
An aerial view of Shandong Yongcheng New Materials. [Photo/WeChat account: zhangjiagangfabu365]
With a total investment of 5 billion yuan ($712.38 million), the first phase of the project, featuring a production line with a capacity of 4,000 metric tons of high-performance carbon fiber, has already achieved mass production. The second phase, meanwhile, will reach an annual production capacity of 8,000 metric tons of high-performance carbon fiber.
Carbon fiber is a crucial material used in high-end sectors such as aerospace, electric power, and transportation. By entering the carbon fiber industry, Everrising Holdings seeks to address the shortage of high-end carbon fiber products in China, fostering new quality productive forces.
The project's completion will also enhance regional cooperation between Zhangjiagang and Rongcheng, a county-level city in Weihai, Shandong province.
Founded in 1984, Everrising Holdings operates across various sectors, including steel, new energy, new materials, logistics, construction, and trade, employing over 10,000 people. The company ranks 81st on the 2023 list of China's Top 500 Private Enterprises.