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The Yangkou Port Economic Development Zone – which is located in Rudong county in East China's Jiangsu province – signed an agreement on Aug 19 with Jiangsu Yongda Chemical Machinery Co Ltd, for the manufacturer to move operations there.

Located in Nanjing, capital city of Jiangsu, the company designs and produces pressure vessels used in the petroleum and chemicals industries.

Under the agreement, Yongda will build a heavy chemical equipment manufacturing plant in the development zone.

This will be the first heavy equipment plant to settle there.

With an estimated total investment of 1.1 billion yuan ($161.1 million) on completion, the plant will mainly produce production towers, reactors, radiators and other heavy chemicals equipment.