Six major projects in the Taixing Economic Development Zone – located in Taixing city in East China's Jiangsu province – broke ground on Feb 18, with a total investment of 3.32 billion yuan ($480.51 million).
It is expected that on completion they will drive the impetus forwards for the zone to construct a formidable modern industrial system and park.
A planned high-performance sealing new materials plant to be operated by the Belgian Soudal Group – the largest sealing materials and foaming agents manufacturer in Europe – is projected to start production in the first half year of 2025.
It is expected to generate annual sales of 1.5 billion yuan and pay taxes of 150 million yuan each year.
Last year, the zone signed up 30 projects, with an average investment of 1.28 billion yuan.
Moving forwards, plan for it to start construction in the current year on 16 projects costing 500 million yuan each and realize the completion of 12 projects, said Zhu Weixiang, vice-mayor of Taixing.