NETDA signs agreement for 3b yuan project

Fujian-based Forop Advanced Materials Co Ltd signs a project agreement with the Nantong Economic and Technological Development Area in East China's Jiangsu province on July 7. [Photo provided to NETDA]

Fujian-based Forop Advanced Materials Co Ltd on July 7 signed an agreement to build a 3 billion yuan production facility for high-performance thin film in the Nantong Economic and Technological Development Area in East China's Jiangsu province.

The new facility will feature four advanced production lines by Germany's Bruckner Group.

Construction of the project, which will span 158 mu (10.53 hectares), is expected to start in the third quarter of this year and the project will generate more than 3 billion yuan in sales revenue per year when being put into operation, according to authorities.

Nantong mayor Wu Xinming said that the project will play an important role in improving the city's industrial chain and developing emerging sectors.

Shi Zhangfeng, president of the company, said that the new facility will be the company's second factory in the area. He noted that the company chose to locate the factory in Nantong because of its friendly business environment and streamlined approval procedures.