An industrial park based on cooperation between Qidong and Pudong, Shanghai was unveiled in the Qidong High-tech Industrial Development Zone in Nantong on May 26.

The Qidong High-tech Industrial Development Zone, a major driver of cooperation between the two sides, has established several industrial clusters since 2008.

The newly unveiled industrial park is designed to cover a total area of 10,000 mu (666.67 hectares), and the first phase will cover an area of 1,000 mu. 

It will serve as a support base for developing the high-end equipment industry of Pudong and will focus on equipment involving logistics, low-carbon applications, specialized uses, and electronic information.

Jiangsu Qibao Steel Tube Co is the first company to start operating in the industrial park. With its facilities covering an area of 154 mu and costing 1.05 billion yuan, the company will mainly produce pipeline compressors for the transportation of natural gas, which are currently in high demand in China, and wellhead compressors for oil extraction.

The facilities are expected to be completed by the end of 2021 and begin production in 2022.

That same day, construction started on 32 major projects costing a total of 15.35 billion yuan ($2.14 billion). Seven of them will cost over 1 billion yuan each, one will cost over 2 billion yuan, and one will cost over 5 billion yuan.