The groundbreaking ceremony for new Shanxi Meijin Hydrogen Energy Industrial Park took place on Oct 29, local officials said. 

It was held in the Jinzhong zone of the Shanxi Transformation and Comprehensive Reform Demonstration Zone in Jinzhong city, in Shanxi province, they said. 

Developer Guangzhou Hongjin Investment Co, which is funding the project, aims to build the new industrial park into a hydrogen energy production center for hydrogen fuel cell power systems and hydrogen fuel commercial vehicles.

The park will produce an estimated 50,000 sets of hydrogen fuel cells annually and have a capacity to manufacture 50,000 hydrogen fuel commercial vehicles and accessory products every year. 

With an expected investment of 4.5 billion yuan ($639.13 million), the first phase of the project will cover 80 hectares and produce around 10,000 sets of hydrogen fuel cell, and up to 10,000 hydrogen fuel commercial vehicles annually. 

Once completed, the first phase of the project will generate an annual output value of 12.7 billion yuan and annual taxes of 2.4 billion yuan. 

Officials said the hydrogen energy industrial park marked a new stage for the zone's new energy vehicle industrial development.