Huazao's new production base is located in the Qidong Biotechnology Park. [Photo/Nantong Daily]

On May 17, Huazao (Jiangsu) Marine Biotechnology Co Ltd signed an agreement to establish a marine bioproducts and pharmaceutical excipients production base in Qidong, Nantong, Jiangsu province.

Huazao is a technology-driven company focused on the development and utilization of marine biological products. Leveraging a high-quality team of experts and research platforms operated in collaboration with universities, the company has established an advanced and comprehensive production system for functional marine biological raw materials and products.

The newly signed project has a total investment of 1 billion yuan ($138.03 million) and will be implemented in two phases. The first phase, with 500 million yuan in investment, will feature a digitalized and intelligent factory, which will produce marine bioproducts such as sodium alginate, and seaweed powder, along with new types of pharmaceutical excipients.

Pang Binghong, chairman of Huazao, highlighted the unique advantages of Qidong, including its strategic location, distinctive industrial resources, and high-quality and efficient government services. The area also fosters a strong atmosphere for innovation and entrepreneurship. These factors were pivotal in the company's decision to invest in Qidong, said Pang.

Huazao will expedite the construction and operation of the project to capture a larger market share. The company is committed to becoming a benchmark enterprise in the industry, contributing to the economic development of Qidong, added Pang.