QINGDAO Hiwin Group recently signed a contract with the Ineos Group, the world’s fourth largest chemical engineering manufacturer, introducing the advanced technology that will transform it into a world-class ecological company.

    The group plans to build a petrochemical industrial base covering an area of 1.5 square kilometers in Dongjiakou harbor area. Among these, the relocation of Haijing chemical engineering project with total investment of 5.4 billion yuan will start first. The relocation is expected to be finished in 2013 and making annual revenue of 3.6 billion yuan in the future. Targeting becoming internationally respected companies, Hiwin chose to cooperate with Ineos through public bidding.

    Ineos is the world’s fourth largest chemical engineering manufacturer and its revenue reached US$40 billion in 2010. The company has taken the lead in vinyl technique globally.

    (Wang Yuanyuan, Lin Gang)