WND signs new deal to develop new materials

Signing ceremony between Rui'an Technology Group and Wuxi National Hi-tech District is held on Jan 18. [Photo/WeChat account: xinwu_wx]

Rui'an Technology Group signed an agreement to build its headquarters and start a company working on biological materials in Wuxi National Hi-tech District (WND) on Jan 18.

According to the deal, the to-be-built headquarters will include an administrative management center, a new materials international innovation research institute, and a digital marketing headquarters.

After building up the headquarters, Rui'an Technology Group plans to invest 2 billion yuan ($309.6 million) to develop its biological materials business in WND. It will establish its biological materials company in the district, with a registered capital of 300 million yuan, which will be fully paid in before this May.

An Shili, chairman of Rui'an Technology Group, said that WND, which boasts a strong industrial foundation and good business environment, is an ideal place for the company to develop its new materials business.

Cui Rongguo, director of WND, expressed hope that the new deal will help build up the modern industry ecosystem in the district.

Cui also urged all related government department to give full support to the project.