Sinopec inaugurates new materials research institute in Ningbo
A new materials research institute funded by Sinopec (China Petroleum & Chemical Corp) and Ningbo municipal government breaks ground on March 29. [Photo/Ningbo Evening News]
A new materials research institute funded by Sinopec (China Petroleum & Chemical Corp) and the Ningbo municipal government broke ground on March 29.
Qiu Dongyao, mayor of Ningbo, pointed out that the establishment of the research center will bolster the city's campaign to build a world-class green petrochemical industrial cluster.
Ningbo aims to lift the output of its green petrochemical industry to 1 trillion yuan ($153.85 billion) and become a national innovation powerhouse in the new materials sector, according to Qiu.
He hoped that the institute would focus on core technological breakthroughs and strive to be an influential innovation center in the green petrochemical sector in China.
Yu Xizhi, director of Sinopec, believes that with the joint efforts of Ningbo and Sinopec, the research institute would be completed and put into use soon.
He noted that the institute's main functions include frontier technology research, technological commercialization and high-profile professional cultivation.
With an investment of 3 billion yuan, the institute covers a total area of 270 mu (18 hectares) and has a floorage of 150,000 square meters.
Its construction is divided into three phases, with the first phase expecting to put into operation by the end of 2022.