Business representatives sign project deals at a ceremony held at the Suzhou-Wuxi-Nantong Science and Technology Park in Nantong, East China's Jiangsu province, on June 29. [Photo/ntfabu.com]

Twenty project deals with a combined contract value of about 20 billion yuan ($3.1 billion) were signed at the Suzhou-Wuxi-Nantong Science and Technology Park in Nantong, East China's Jiangsu province, on June 29.

Among them are 13 manufacturing projects, four service projects, and three scientific innovation platforms. Twelve of these projects will each receive more than 1 billion yuan in investment, according to local media outlets.

Most of the projects involve high-end technology and foreign funds. For example, the second phase of Unisteel, a wholly-owned subsidiary of Switzerland-based SFS Group, is expected to begin construction later this year.

The new plant, which will cost 1.5 billion to build, will focus on the production and sales of automobile parts, medical equipment and fastening pieces and generate 1 billion yuan in annual output when at full capacity, said Tang Hongxiang, senior general manager of the company.

In addition, the four service projects, including a commercial complex, an international hospital and a hotel, are expected to help improve the park's living and business environment.

According to government officials, the industrial park has been striving to play a leading role in Nantong’s integration with cities south of the Yangtze River, such as Suzhou and Wuxi.

The park has also fully leveraged its advantages in high-end manufacturing and partnership with the southern part of Jiangsu province to become a hotbed for investment.