An artist's rendering of the planned copper plant that is currently being built by producer Xinghua Jinbiao Copper Industry Co Ltd. [Photo/WeChat account:xinghuafabu]
A groundbreaking ceremony for a copper product plant, being erected in Diduo town in Xinghua city, East China's Jiangsu province, took place on May 9.
Funded by producer Xinghua Jinbiao Copper Industry Co Ltd to the tune of 510 million yuan ($70.40 million), the aim is to manufacture 40,000 metric tons of oxygen-free copper rods, copper strips and copper pipes per year.
The plant's main product – high-precision, irregular oxygen-free copper strips – is widely used in microwave ovens and computer integrated circuits, supplying home appliance industry giants such as Gree and Midea.
On completion, the plant is projected to generate annual industrial invoiced sales of 2 billion yuan.
The facility is expected to consolidate, strengthen and extend the copper alloy industry supply chain in Diduo town and drive the regional sector to high-end and intelligent directions.
Diduo town is known for being the "hometown of copper craftsmen", boasting many capable people engaged in copper production and trading.
The town has built a copper alloy new materials industrial park in a bid to secure the return of talented people from outside back to their hometown.