An agreement was signed on Feb 20 to build a textiles manufacturing plant in Chang'an Textile Park, located in the Hai'an Economic and Technological Development Zone in East China's Jiangsu province.

It is the first major project inked to settle in 2021 in Hai'an, a county level city administered by the prefecture-level metropolis of Nantong – marking a strong start to the year for its marketing drive to attract more investment.

Funded by Taiwan Delicacy Industrial Co Ltd, the $300 million project involves construction of textiles factory that will manufacture high-end, functional fabrics.

With registered capital of $100 million and a 400 million yuan ($61.9 million) investment in equipment, the plant is expected to achieve sales of 2.6 billion yuan annually after it is completed and ramps up to full production.

Yu Lizhong, Party secretary of Hai'an, expressed his best wishes for the success of the major project.

Chang'an Textile Park is an industrial park jointly being developed by the county level city of Changshu in southern Jiangsu – which is a textiles-producing center – and Hai'an in central Jiangsu. Yu hoped that companies would accelerate their development of projects in response Chang'an park's range of policy advantages.

Yu added that the municipal government and the zone would provide responsive and convenient management services and an open track for enterprises to develop their projects.