The Binhai New Area – located in the county-level city of Hai'an, in Nantong in East China's Jiangsu province – is expected to get a boost to its economy in the wake of attracting three major projects to settle there, after an online signing ceremony took place on March 1.

The projects, to cost a combined 2.2 billion yuan ($347.94 million), will invest 840 million yuan in equipment alone.

After they are completed and start production, the projects are expected to generate output value of over 800 million yuan annually.

It is envisaged that as a result, new vigor will be injected into the Binhai New Area, to become a prefabricated construction industry center and a springboard for intelligent equipment manufacturing in Jiangsu's eastern coastal region.

The three projects are engaged in the production and marketing of prefabricated building components and the manufacturing and sales of fiberglass doors. They are also involved in the production and processing of industrial coating equipment, purification equipment, conveying equipment and accessories.