Major 200 Million Investment from Jotun Group Strengthens Zhangjiagang's Coating Industry

On the morning of March 7, Zhangjiagang Free Trade Zone signed an investment intention agreement with Jotun Group for a high-performance coating project. The signing ceremony was attended by Han Wei, the Secretary of the Municipal Party Committee, who met with Tuncay Kazancıoğlu, Vice President of Jotun Group for Northeast Asia and General Manager of Zhangjiagang.

Jotun Group is a leading global player in the paint and coatings industry. Since establishing its presence in Zhangjiagang Free Trade Zone in 2004, Jotun has invested nearly $90 million and built the largest single production base globally, showcasing strong growth momentum. According to the investment intention agreement, Jotun plans to invest $200 million in the Free Trade Zone to establish a project with an annual production capacity of 200,000 tons of high-performance coatings.

Han Wei expressed gratitude for Jotun's long-standing contributions to the economic and social development of Zhangjiagang. He noted that the company has built a solid cooperative relationship with the region since its arrival in 2004. The continued investment reflects Jotun's confidence in "investing in and rooting in Zhangjiagang." He hopes this agreement will accelerate project implementation and enhance practical cooperation in various sectors, bringing more quality projects to the area. The Zhangjiagang Municipal Committee, government, and Free Trade Zone will continue to foster a world-class business environment, providing optimal services and robust support for enterprise development.

Tuncay Kazancıoğlu briefly outlined Jotun's industrial development and future plans, emphasizing their strong cooperative foundation with Zhangjiagang. As their collaboration deepens, Jotun aims to leverage its industry-leading advantages, utilizing Zhangjiagang's unique geographical benefits and comprehensive industrial support to increase R&D investments and production capacity, while also facilitating the region's industrial transformation and innovative development.

The signing of this agreement will solidify Jotun's industry-leading position and provide strong support for the coatings industry in Zhangjiagang Free Trade Zone, injecting new momentum into the city's goal of creating a trillion-yuan innovative cluster for advanced polymer materials.