A groundbreaking ceremony is held on May 11 for the Golden Eagle (Rugao) Industrial Park in Changjiang town, Rugao, Nantong, East China's Jiangsu province. [Photo/WeChat account: rugaofabu]

A groundbreaking ceremony was held on May 11 for the Golden Eagle (Rugao) Industrial Park in Changjiang town, Rugao, Nantong, East China's Jiangsu province, according to local media reports.

The construction of the Golden Eagle (Rugao) Industrial Park is expected to inject new vitality into the city's emerging industries.

Receiving a total investment of 41 billion yuan ($6.06 billion), the industrial park will consist of a lyocell fiber base with an annual output of 200,000 metric tons, a high-grade white cardboard base with an annual output of 2 million tons, a cogeneration base and a logistics park.

Rugao is a fertile ground for investment and business in the Yangtze River Delta region, and the Golden Eagle Group will give full play to the advantages of capital, resources, technology, talent and management to build the Golden Eagle (Rugao) Industrial Park into a high-quality industrial base, said Chen Yuting, chairman of Golden Eagle Group China.