A project under construction in Rudong Economic and Development Zone, Nantong [Photo/WeChat account: rudongfb]

Construction started on nine projects worth nearly 12 billion yuan ($1.69 billion) in Rudong Economic and Development Zone, Nantong, on May 17. The projects involve intelligent manufacturing, electronic information, new energy and new materials.

Among them, a project on special glass developed by Jiangsu Shen'an Optoelectronic Technology Co is the largest, with over 5 billion yuan in investment. 

That project is expected to produce 11 million square meters of microelectronic glass substrates and 400,000 metric tons of new-type packaging materials for drugs per year. The annual sales revenue is expected to exceed 3.5 billion yuan.

Rudong Economic and Development Zone has now formed five leading industries: wind power equipment manufacturing, intelligent communications and power systems, security protection, automobile electronics, and food.

Industrial parks in the zone serve as incubators for high-tech and innovative projects. A batch of projects valued at over 100 million yuan each, engaged in automobiles, engines, precision equipment and more, have been operating in these parks, with total investment exceeding 3.5 billion yuan.

The zone has also gathered more than 20 enterprises involved in the industrial chain of wind power equipment manufacturing. In April, an enterprise specializing in producing components for wind power equipment was introduced in the zone, helping establish a complete wind power industrial chain.

The industrial park funded by ZTT Group mainly focuses on communications, electrical power, new energy and new materials. Its taxable sales revenue was up to 1.25 billion yuan in the first quarter of this year, up 95 percent year-on-year.