A $100 million intelligent equipment manufacturing plant will be built in the Gangzha Economic Development Zone, or GZEDZ – located in the Chongchuan district of Nantong city, in East China's Jiangsu province – following an agreement that was signed on March 16.

Wang Bin, secretary of the Party working committee of the Gangzha Economic Development Zone and Zhu Bing, director of the zone's administrative committee, attended the signing ceremony of the plant, which is expected to become a major driver of the local economy.

The plant will be owned and operated by Singapore-based group Global Links Technology Co, Ltd and will cover a land area of 40,000 square meters.

It will be constructed as a manufacturing and R&D base for small intelligent equipment. The multi-level structure will have a floorspace of more than 70,000 sq m and plant is expected to achieve taxable sales of about 1.5 billion yuan ($230.4 million) annually after it's completed and ramped up to full production.

Focusing on the R&D, production and sales of small intelligent equipment and instruments, it is expected that the facility will prove attractive to top-flight personnel in the field of intelligent manufacturing and make significant contributions to the economic development of both Chongchuan district and Nantong city.