On March 6th, Lubei Chemical announced that its wholly-owned subsidiary Shandong Xianghai Titanium Resources Technology Co., Ltd. plans to invest 719 million yuan to build an annual production of 60,000 tons of chlorinated titanium dioxide expansion project. The project is expected to bring a production scale of 60,000 tons/year of chlorinated titanium dioxide and 20,000 tons/year of chlorine gas.

After the project is put into operation, it is expected to bring an annual operating income of 1.32 billion yuan, a total annual profit of 189 million yuan, income tax of 47.2866 million yuan, business tax and surcharges of 7.2839 million yuan, and an after tax profit of 142 million yuan.