Construction work on the Plainvim International Haimen Industrial Park will begin with a groundbreaking ceremony on Sept 20 in Haimen, Nantong, East China’s Jiangsu province, according to local media reports.

The industrial park is expected to receive 5 billion yuan ($703 million) in investment and has a total planned area of 635 mu (31.75 hectares). The first phase of the park will cover an area of 234 mu with a construction area of 210,000 square meters.

The park will be funded and built by Plainvim International Co, one of China's leading industrial real estate development operators.

The Plainvim International Haimen Industrial Park will be the 15th industrial park funded and built by the company in the Chinese mainland. It is meant to attract global top 500 companies.

The park will further optimize the industrial structure of the Haimen High-tech district and promote the industrial development of the city.