Chenguang New Materials announced on January 26 that the company plans to sign a contract with Hukou County Government regarding the project of 135,000tpy silicon-based new materials and 25,000tpy titanium and cobalt based new materials. The project covers an area of about 319mu, with a total investment of about 3 billion yuan (473 million US dollars). The construction period of the main works of the project is 24 months, and the production and offline time of the products is within 180 days after the completion and acceptance of the project.