On March 29th, the largest R&D production base for bioplastics in China was started in the Happy Industrial Park in Jiangxia District, Wuhan City. The base is invested and built by the world's second largest bio-plastics company, Wuhan Huaneng Environmental Protection Company. It is built in two phases with a construction period of two years. After completion, the base's annual bio-plastic production capacity can be increased to 100,000 tons, which is expected to become the world's largest base in the industry. It is understood that in December 2011, Standard Chartered Bank of the United Kingdom injected US$30 million into Wuhan Huaneng Environmental Protection Co., Ltd. to help it expand its production capacity, setting a new record for Standard Chartered Bank's investment in Wuhan and bank financing for private enterprises in Hubei. Zhang Xianbing, chairman of Hualien Environmental Protection Company, said that after the completion of 2014, the base will produce 60,000 tons of bioplastics annually, and the annual output value is expected to exceed 800 million yuan. With the existing production capacity, the company's annual production capacity will reach 100,000 tons, making it the largest bioplastic base in China. At present, the world's largest Italian company, Novoamont, can produce 80,000 tons of bioplastics per year. If the company does not expand its production within two years, it is expected to become the world's largest bioplastics company. Cashmere Sweater
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