Yanda Construction and Qidong sign an agreement for a high-end equipment manufacturing base in Shanghai. [Photo/WeChat account: qidongfabu]

A signing ceremony for the Grace High-End Equipment Manufacturing Base was held in Shanghai on Feb 29.

The project is set to be established in the Lyusi Port Economic Development Zone in Qidong, Nantong, Jiangsu province, with a total investment of $350 million and covering an area of 33.7 hectares. It aims to produce industrial modular units, components, and related equipment, with anticipated annual sales revenue exceeding $2.5 billion.

Lei Jianmin, president of Shanghai Yanda Construction Co Ltd, owner of the project, expressed confidence in the business environment and development prospects of Qidong. He highlighted the city's unique location, abundant development opportunities, and efficient government services. The company will expedite planning to accelerate project progress, Lei added.

Yanda Construction, funded by Hong Kong-based Grace Investment Ltd, is engaged in construction, chemical equipment manufacturing, and project maintenance. It has extensive experience as well as expertise in the manufacturing of chemical equipment and pressure vessels, as well as pipeline welding and installation.

Cai Yi, mayor of Qidong, stated that the city is dedicated to providing a superior environment and high-quality services for enterprises. Efforts will be concentrated on ensuring factors such as land and talent supply to support the project's success.