Baotou Xinhengfeng Energy Co., Ltd. is a subsidiary of Oriental Hope Group. The 260,000-ton aluminum alloy round ingot project covers an area of 75 acres and has a total investment of 350 million yuan. It mainly builds production workshops, office dormitories and production equipment.
The project is constructed in two phases. The first phase of the 200,000-ton aluminum alloy project planned to invest 200 million yuan that year. The construction has started in March 2021. As of November 30, the investment has been completed and 199 million yuan has been completed. It is expected to be completed and put into production on December 15, 2021. After the project is completed, it can achieve an annual output value of 5 billion yuan and a tax of 100 million yuan; the second phase of the project will continue to build a 60,000-ton industrial bar and aluminum profile project with a planned investment of 150 million yuan. After the project is completed, the cumulative output value will be 10 billion Yuan.