The groundbreaking ceremony for Hengnuo's new biodegradable rubber project is held in Yangkou Port Economic Development Zone. [Photo/WeChat account of Yangkou Port]

A groundbreaking ceremony for Jiangsu Hengnuo's new biodegradable rubber project, with a total investment of 1.08 billion yuan ($148.84 million), was held on July 6 in Yangkou Port Economic Development Zone.

The project, funded by Jiangsu Hengnuo New Material Technology Co Ltd, spans 10 hectares and aims to produce 110,000 metric tons of biodegradable rubber annually. This innovative material is not only an original rubber product from China but also the only degradable rubber currently available.

The project will be constructed in three phases and, once fully operational, is expected to generate annual taxable sales of 4.95 billion yuan. The project targets applications in various fields such as gloves, tires, and footwear.

Wang Xianhua, chairman of Hengnuo, stated that the biodegradable rubber aligns with the industry's green, environmentally friendly, and sustainable development. He added that the company is committed to putting forth tremendous effort to ensure the project is completed and operational as soon as possible, contributing to the economic growth of Rudong.