Government officials and business leaders lay a foundation stone for the 5G new material project, sponsored by Amer International Group, in Rugao, Nantong, on Aug 12. [Photo/WeChat account: rugaofabu]

Construction on 17 projects - with a combined total investment of 22 billion yuan ($3.19 billion) - started in Rugao, Nantong on Aug 12.

The projects are in various fields including intelligent equipment manufacturing, new energy vehicles, automobile parts, high-end new materials, new-generation information technology, and industrial complexes.

One of them, a 5G new material project sponsored by Amer International Group, took the spotlight at the commencement ceremony.

The project comprises a nano-copper touchscreen plant with an annual production capacity of 5.52 million square meters, a high-performance copper plant with an annual production capacity of 300,000 tons, a research institute for intelligent manufacturing, a supply chain platform, and other supporting facilities, which will cost a total of 10 billion yuan to build.

When operating at full capacity, this industrial cluster is expected to generate 25 billion yuan in sales annually, helping Rugao form an industrial chain worth more than 100 billion yuan.

"The project, integrating sci-tech R&D, manufacturing, and supply chain management, will inject new momentum into Nantong's emerging industries and boost the high-quality development of the coastal city," said Wang Hui, mayor of Nantong.

Amer International Group, which ranks 91st on the Fortune Global 500 list, has been committed to metal and non-metal new materials in recent years.

Wang said that the local government is looking forward to deepening the partnership with the group and becoming a national model of government-company cooperation.