It's smiles all round as Hunan Dejingyuan Technology Co Ltd and Yangkou Port Economic Development Zone sign a contract. [Photo/Nantong Daily]

Hunan Dejingyuan Technology Co Ltd, a high-tech enterprise supplying the lithium battery new energy materials industry, signed a contract with the Yangkou Port Economic Development Zone – located in Rudong county in Nantong city, East China's Jiangsu province – on March 24.

Under the terms, the company will build a manganese-based new energy materials manufacturing plant in Yangkou Port with a projected annual output of 50,000 metric tons.

The project will cost 1.4 billion yuan ($203.52 million) and is expected to generate annual sales of 1.7 billion yuan.

This year marks the 20th anniversary of the establishment of the Yangkou Port Economic Development Zone.

It has launched a spring investment promotions campaign focusing on extending and strengthening its leading industries, including new energy, new materials and high-end equipment manufacturing.

More than 20 people from the investment promotions team have been negotiating with more than 20 industrial projects – involving investments of more than 100 million yuan each – in the cities of Beijing, Shanghai, Guangzhou, Shenzhen and in southern Jiangsu province.