The economic development bureau in the Hefei National High-Tech Industry Development Zone – located in Hefei, capital of East China's Anhui province – and Hefei Taomi Technology Co signed a cooperation agreement on Dec 15.

This will pave the way for the establishment of the Taomi Technology Intelligent Mining Sorting Equipment Development and Production Base in the high-tech zone.

The signing ceremony takes place on Dec 15. [Photo/WeChat ID: hefeigaoxinfabu]

Taomi Technology, a company founded by experts with over 15 years of industry experience, specializes in artificial intelligence and machine vision technology research and development, product manufacturing and providing industry solutions.

The project plans to invest 200 million yuan ($28 million) on a plant that focuses on intelligent coal selection, intelligent ore selection, green mining, smart mines and urban mines.

It will provide intelligent equipment, digital software systems and solutions.

It's expected to achieve a cumulative output value of over 600 million yuan and generate tax revenue of approximately 65 million yuan within 5 years.

Moving forwards, plans are for the high-tech zone to continue to support the development of Taomi Technology.

It will also actively assist in connecting with related funds, banks and other financial institutions to provide project financing.

What's more, it will also help with various qualifications applications, promote investment and expansion in the Hefei high-tech zone and boost its overall production capacity.