South Korean-based Daesung, an engineering and industrial gas producer, launched an expansion project in Huangpu district, Guangzhou, on Dec 11.

The company plans to invest another $340 million to produce nitrogen and liquid nitrogen in Huangpu, opening a new plant in March, 2019.

Attendees of the ceremony included Chen Xiaohua, head of the Huangpu district, Hong Qian, deputy head of the district, Yin Yusheng, president of LG Display China, and Young Tae Kim the chairman of Daesung. 

Daesung（Guangzhou）Gases Co is established in 2013 in Huangpu district, covering an area of 33,000 square meters. [Photo/WeChat Account gzhpfb]

Daesung（Guangzhou）Gases Co was established in Huangpu in 2013, covering 33,000 square meters of land, using an investment of $75 million. The company started production in June, 2014 becoming the largest special gas producer in Guangzhou and a major special industrial gas provider for large panel display companies such as LG Display.

Daesung, the largest energy enterprise in South Korea, was founded in 1947, and engages in production and engineering of industrial gas. It boasts strong abilities in other areas such as the development of general gas, special gas and mixed gas, as well as manufacturing, processing and sales of gas equipment products.

Huangpu district has been redoubling its efforts to attract investment in recent years and has achieved good results. The company signed onto 70 projects with worldwide companies including 12 in the Fortune 500 in 2017. Huangpu district also made full use of $2.22 billion in foreign investment from January to October this year.

South Korean gas company Daesung is investing a further $34 million in its Guangzhou plant. [Photo/WeChat Account gzhpfb]