NHIZ advances major projects with rapid construction progress
Since the beginning of this year, Nantong's Tongzhou district has been making steady progress on major construction projects.
On Nov 4, the main structure of the Cypag energy-saving electro-hydraulic drive system project, located in the district's Nantong National High-tech Industrial Development Zone, was completed, and workers are now carrying out interior work.
The Cypag project, with a total investment of 500 million yuan ($69.11 million), is funded by Suzhou Cypag Hydraulic Technology Co Ltd, a national high-tech enterprise and a recognized gazelle company in Jiangsu. Once fully operational, the project is expected to produce 20,000 energy-saving electro-hydraulic drive systems annually for new energy construction machinery, generating 500 million yuan in taxable sales and 15 million yuan in tax revenue.
"Our current progress has exceeded expectations, and we expect to start operating by March next year. We expect to see an annual output of 500 million yuan, which will boost our company's core competitiveness and contribute to Tongzhou's economic growth," said Chen Kailei, vice-president of production and operations at Cypag.
The project's construction progress has been remarkably swift. Construction on the main structure begin in March and was completed by October—a testament to Tongzhou and NHIZ's unwavering commitment to supporting project development.
The Cypag energy-saving electro-hydraulic drive system facility is currently under construction. [Photo/Nantong Daily]
