China-based Shenzhen MYS Environmental Protection and Technology has announced plans to invest CNY350m ($55m) to construct green package manufacturing units in Zhengzhou city, Henan province, China.
The company will set up a subsidiary, Zhengzhou MYS Environmental Protection and Technology, which will produce medium and high-end packaging products and provide packaging product logistics services, capitalvue quoted yicai.com.
Shenzhen will need 18 months to build the facility and the investment is aimed at exploring the northern China market.
The proposed scope of business will include production of lightweight eco-friendly packaging products, environment-friendly packaging products, packaging materials, packaging machinery, and integrated packaging solutions for technology development.