Fujian Kuncai Material Technology Co., Ltd. and its wholly-owned subsidiary Fujian Fushi New Material Co. Ltd. has signed an Investment Contract of Construction Land for Industrial Projects in Fuqing City with Fuzhou Jiangyin Port Economic Zone Administrative Committee to build the titanium oxide project. With an initial investment of RMB1.8 billion, the main 100 kt/a cosmetic- and auto-grade titanium oxide project will be implemented by an independent legal person subsidiary, designated by Kuncai Material Technology. Fujian Fushi New Material will be responsible for implementing the 800 kt/a feedstock titanium oxychloride (TiOCl2) project.