Government officials and business leaders lay a foundation stone for a textiles project in Dingyan town, Rugao. [Photo/WeChat account: rugaofabu]

An equipment manufacturing park in Dingyan town, Rugao is expected to start construction in early November.

The project, with 2 billion yuan ($289.8 million) in investment, will consist of 14 single-story workshops, 21 two-story workshops, 11 four-story workshops and one 10-story office building. 

Upon completion, it will house 50 companies engaged in precision machinery, new materials, electronic information, automobile parts, equipment manufacturing and precision molds, which are expected to generate 2 billion yuan in taxable sales revenue.

Near the park, a nonwoven fabric production plant will be put into operation in late December.

According to Liu Xiaodong, chief of Dingyan town, the plant is a typical upgrade of traditional industrial production and will make it possible for the town to increase the competitiveness of its traditional industries.

"These projects have become a strong driving force behind economic growth in Dingyan," said Liu. "They have also served as new paths to optimizing the town's economic structure and upgrading industrial development."

Nine projects are currently under construction, each of which is receiving more than 100 million yuan in investment and two are receiving 500 million yuan in investment.

Liu said that the town aims to cultivate four pillar industries – textiles, daily chemicals, equipment manufacturing and smart home – within two to three years.