An automotive interior parts project with a total investment of 110 million yuan ($15.15 million) is expected to settle in the Taizhou Port Economic Development Zone, Taizhou city in East China's Jiangsu province, according to a signing ceremony on Aug 30.
The initial registered capital of the project is 50 million yuan, and the project will rent a factory space measuring at 14,309 square meters.
Once at full capacity, the project is expected to reach an annual sales revenue of no less than 120 million yuan, with an annual tax payment of no less than 6 million yuan.
A project attraction team, headed by Qiao Junfeng, has provided comprehensive infrastructure support, high-quality settlement services, and fast problem-solving feedback to enterprises within the zone. This helped the zone to sign the automotive interior parts project within just two months.
Since the start of this year, the zone has attracted a raft of projects with a combined investment of nearly 3 billion yuan. They cover fields in high performance battery integrated busbar modules, automation equipment, and medical devices.