The newly built IntelliSemicon Park, an intelligent integrated circuit center, was formally handed over to the owners in a ceremony in the Lingang park in the Minhang Development Zone in East China's Shanghai on Dec 28.

Six companies, with a total investment of 6.5 billion yuan ($1 billion), signed construction agreements involving six integrated circuits (IC) projects with the center on the same day. When onstream, the projects are expected to have an output value of 8 billion yuan per year.

The intelligent IC center is an important part of the Oriental IC Port, an IC industrial base located in Shanghai's Lin-gang Special Area.

It is an industrial complex for the IC and intelligent manufacturing industries. The total construction area of the center is over 300,000 square meters and it cost 2.1 billion yuan.

Construction began in March 2020 and despite challenges such as the outbreak of the COVID-19 pandemic and the long Meiyu rainy season, the factories in the B area of the facility were delivered in nine months, while the factories in the A area are still under construction.

Last year, a slew of leading IC companies settled in the Lingang park in the Minhang Development Zone, bringing in projects involving combined investment of 31.5 billion yuan.