The groundbreaking ceremony for a new energy light alloy die-casting manufacturing plant took place in the Jingjiang Economic and Technological Development Zone – in Taizhou city, in East China's Jiangsu province – on Sept 16.
Digging for progress: Jingjiang city holds a groundbreaking ceremony for Huada Automotive Technology Co Ltd's new plant on Sept 16. [Photo/WeChat ID: jingjiangfabu]
With a total investment of 1.05 billion yuan ($144.23 million), the facility is expected to help promote the transformation and upgrading of the auto parts industry in Jingjiang.
Its owner and operator Huada Automotive Technology Co Ltd, an A-share stock market listed enterprise, specializes in manufacturing high-grade car assembly parts.
The company has implemented a development strategy called the "headquarters economy" since 2012 and has set up several subsidiaries across China.
In recent years, it's focused on the development of new materials and independent core technology to meet the demand for lightweight metal casting parts in the auto industry.
An artist's impression of Huada Automotive Technology Co Ltd's plant in the zone. [Photo/WeChat ID: jingjiangfabu]
The plant will have a total floor space of 85,000 square meters and will include automated production lines and a robot assembly line.
It is expected to generate an annual output value of 2 billion yuan and 200 million yuan in annual profits and taxes.
The local government is understood to be fully committed to providing full support for the project and aims to make sure it is completed in 250 days.