5ELEM Hi-Tech Corporation's high-performance composite material plant – situated in the Jiangyan Economic Development Zone in the Jiangyan district of Taizhou city in East China's Jiangsu province – recently got an honor.
It was chosen as one of the major projects in East China's Jiangsu province. This information was released by the Jiangsu Development and Reform Commission on Jan 5.
The project is currently in the initial construction phase in the Jiangyan Economic Development Zone. [Photo/WeChat account: gh_d6cb78f80c03]
With a planned investment of 2 billion yuan ($279.71 million), the plant will cover a site of about 103 mu (6.87 hectares) and have a floor space of approximately 98,000 square meters.
It aims to introduce European technology and equipment to produce a variety of composite materials for pipe renewals, with an expected annual output of 4.5 million meters.
Additionally, three other projects in the zone have been listed as key industrial projects selected for private investment.
They are the KEENON Robotics Co Ltd's R&D center and manufacturing plant with a combined investment of 3.5 billion yuan, Hanglingwei Semiconductor Device Special Equipment Production Plant with a planned investment of 5 million yuan and Dyness new energy storage equipment project with a planned investment of 1.2 million yuan.
These projects are expected to significantly contribute to the development of the Jiangyan Economic Development Zone – and the zone is sparing no effort to boost the development of these major ventures.