August 10 -- Hunan Nanling Industry Explosive Material (002096) filed it will spend 75.24 million yuan to upgrade of its existing 10,000-ton emulsion explosive production line, reports Shanghai Securities News. Upgrading work starts next month and will take 1.5 years.

The new production line will adopt commonly used emulsion technology in the domestic market and will also introduce a fully automated packaging system and control system in order to improve production efficiency and lower labor costs.

Nanling estimates emulsion explosive demand from domestic market for industrial explosives will grow 10 percent annually. Production of emulsion explosives will occupy more than 60 percent of the packaged explosives market in the next three to five years.

Nanling also filed that its parent will invest 50 million yuan to build a science and technology park jointly with the listed company.