A groundbreaking ceremony for 10 industrial projects was held on Nov 18 in Tongzhou district, Nantong, East China's Jiangsu province.

The combined investment for the projects amounts to 4.16 billion yuan ($582.95 million), with three of them having an investment exceeding 500 million yuan.

One of the projects is a new energy project backed by Hamedata Technology Co Ltd with an investment of 1.2 billion yuan. The project aims to produce 3 gigawatt-hours of lithium iron phosphate energy storage batteries and 600,000 sets of household energy storage systems annually. The annual taxable sales of the project are expected to reach 2.5 billion yuan.

Peter Yang, president of the company, said that the commencement of the new energy project will propel the company to new heights and provide robust support for their vision of becoming a global leader in household energy storage.

Tongzhou has made significant achievements in project construction this year. From January to October, the district witnessed the signing and registration of 47 major industrial project agreements, with a planned total investment of 29.83 billion yuan.

A groundbreaking ceremony for 10 projects is held in Tongzhou district, Nantong, Jiangsu province. [Photo/Nantong Daily]