CCEDZ secures two foreign-funded projects
An agreement to establish a smart high-end equipment facility in the Chongchuan Economic Development Zone in Nantong, East China's Jiangsu province was signed on Feb 6.
The 70-million-euro ($75.18 million) project, which is funded by Denmark Nim Technology Corporation and Shanghai Zhongxun Technology Co ltd, will focus on the research and development as well as manufacturing of intelligent welding robots and equipment integration.
The facility is expected to generate annual sales revenues of 600 million yuan ($88.45 million) and more than 36 million yuan worth of taxes.
Another deal for launching a $150-million automotive electronics project in the zone was also inked on Feb 4.
The project, which will involve the research and development, manufacturing as well as sales of automobile spare parts like sensors, wire harnesses and connectors, is expected to generate annual sales revenues of $250 million and more than 40 million yuan worth of taxes.
