At the signing ceremony of the 14th Cross-Straits Economic and Trade Fair (CIF) key project held in Fuzhou City, Fujian Province, as one of the 10 key state-owned projects signed on-site, Sinopec Baling Petrochemical Company and Fuzhou Municipal Government signed a total Invested 3.6 billion yuan in investment agreement for 200,000 tons of caprolactam (phase 1) project annually. At this point, Baling Petrochemical has implemented a strategy for the development of an off-site development and built a production capacity of millions of tons of caprolactam. Li Dawei, Party Secretary of Baling Petrochemical Company, and Luo Ruogu, Standing Committee Member of Fuqing City, signed the agreement on behalf of both parties.
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