A groundbreaking ceremony was held on Dec 16 for three projects worth a combined 1.6 billion yuan ($251.2 million) in the Zhangjiagang Metallurgical Industrial Park located in Jinfeng town, Zhangjiagang, East China's Jiangsu province.
Chief among the projects is the high-end material R&D and production base developed by Jiangsu Boiln Plastics Co Ltd. The company specializes in the research and development, production and sale of modified plastic products and was listed on ChiNext on Jun 1.
The base received 600 million yuan in investment and is designed to have an annual production capacity of 60,000 tons of new material modified engineering plastics. The products are suitable for a wide range of applications, including electric tools, food packaging, electronic appliances, and automobiles. After the base begins operating, the annual sales revenue is expected to reach 1.35 billion yuan, according to the company manager.
Work has also started on a 500-million-yuan project led by Sumin (Zhangjiagang) New Metal Material Technology Co Ltd. The project can produce 120 million kilometers of diamond wire busbars, 20 million kilometers of high-end precision non-ferrous metal wires, and 1,000 tons of precision cables and high-precision wire drawing dies. It is expected to have an annual sales revenue of 600 million yuan.
Construction also began on the Hongqiao Startup Park, which has received 500 million yuan in investment. The park will consist of a modern logistical distribution base, which is expected to attract more high-quality enterprises.