A rendering of Jiangsu Jinzhu New Material Technology Co Ltd's planned high-performance transmission belt plant in the Taizhou Port Economic Development Zone. [Photo/WeChat ID: gh_1ff53eb21f0a]
Costing an estimated 510 million yuan ($74.66 million), a new high-performance transmission belt plant in the Taizhou Port Economic Development Zone – located in Taizhou city in East China's Jiangsu province – started construction on Feb 8.
Jiangnan University Professor Xu Yang offered his congratulations for the groundbreaking and said that the high-performance transmission belts produced by the company would break a foreign monopoly. He said they have been widely recognized by customers from all over the world, with good market prospects.
In the past, China's transmission belts mostly used traditional elastic fibers that did not meet the desired performance requirements. High-performance materials were mainly imported.
Covering a total area of 58,000 square meters, the plant will be equipped with some 325 sets of major production equipment and be mainly engaged in the production of rubber sheets, tubes, belts and other high-performance transmission belt components.
After it ramps up production, it will produce 50 million meters of high-performance transmission belts per year, generating annual sales of 550 million yuan.
Moving forwards, plans are for the Taizhou Port Economic Development Zone to continue to optimize its business environment and boost the high-quality development of resident companies.