Germany-based company Krones signed contracts with Taicang, a county-level city in Suzhou, Jiangsu province, on April 11, showcasing the city's ongoing appeal to foreign investors.

Krones' packaging and filling integration project in Taicang has received a total of 200 million euros in investment. At full capacity, Krones Taicang is expected to generate around 5 billion yuan ($690.79 million) in annual output, with an average tax contribution per mu (0.07 hectares) of at least 1 million yuan.

Christoph Klenk, chief executive officer and chairman of Krones, said that Taicang's impressive development in recent years is one of the main reasons the company decided to expand investment and production in Taicang. "We have great confidence in the future development of Taicang and our company here," he added.

Founded in 1951, Krones designs, develops, and manufactures equipment and provides overall solutions in the fields of fluids, filling, packaging, and internal logistics. Krones Machinery (Taicang) Co Ltd, established in 2004, primarily develops, designs, and produces brewing, filling, packaging, and conveying equipment. The group signed a contract for an expansion project in Taicang in 2023. This latest investment and expansion further demonstrate Krones' strong faith in Taicang's business environment.

Additionally, an agreement for a globally renowned life and health project was signed with a total investment of $20 million. The project will produce testing equipment for environmental health, food safety, and pharmaceutical analysis, serving as a testing technology platform.

At full capacity, the project is expected to generate 1.4 billion yuan in annual output and contribute approximately 84 million yuan in taxes annually.