The signing ceremony for a high precision and high-strength piston rod project was held in the Taixing Huangqiao Economic Development Zone in Taixing city – administered by Taizhou in Jiangsu province – on July 21.
The project will be operated by Jiangsu Xinheyi New Material Technology Co Ltd, which specializes in producing precision slender shafts and engineering hydraulic cylinder piston rods.
As a national high-tech company and a national "little giant", the company possesses a provincial-level enterprise technology center.
This year, Jiangsu Railway Development Co Ltd purchased equity in Jiangsu Xinheyi New Material Technology Co Ltd through targeted stock issuance.
After conducting extensive market research, Jiangsu Railway Development Co Ltd decided to settle the high precision and high-strength piston rod project with a total investment of 538 million yuan ($75.33 million) in the Taixing Huangqiao EDZ.
In terms of how the project is progressing, its land has been listed and the construction work will commence after delisting.
The cooperation is of great significance for promoting the high-end equipment manufacturing industry and the upgrading of the industrial structure in the zone.