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Jiangsu Yongda Chemical Machinery holds a groundbreaking ceremony for its heavy equipment production base in the Yangkou Port Economic Development Zone. [Photo/WeChat account: rudongfb]

On Oct 23, Jiangsu Yongda Chemical Machinery held a groundbreaking ceremony for its heavy equipment production base in the Yangkou Port Economic Development Zone.

The base, with a total investment of 1 billion yuan ($140.56 million), will cover 18.13 hectares and is expected to be completed and operational by December 2025. It has an expected annual production capacity of 60,000 metric tons of heavy equipment, with projected taxable sales of 1.1 billion yuan.

Li Jin, chairman of Yongda, emphasized the company's commitment to increasing R&D investment, aiming for industrial transformation and innovation breakthroughs to enhance competitiveness and boost market influence.

Zhou Liang, a Party official of Yangkou Port Economic Development Zone, pledged full support for the project and expressed hopes that Yongda will attract more companies in the same industry to set up operations in the zone.