The Jiangsu Development and Reform Commission recently released its list of 510 provincial major projects for 2024 – with an industrial machine tool plant from the Taixing Huangqiao Economic Development Zone in Taixing city included among those recognized.
A high-end equipment manufacturing plant for industrial motherboards, the project is being funded by Jiangsu Xinsu Investment and Development Group to the tune of $250 million.
The project will be divided into phases, with workshops and research and development buildings to be built for safes, pistons, grinding machines and other products.
To set up the production line, an estimated 800 sets of production equipment such as laser cutting machines, CNC punchers, and special milling machines will be purchased.
When at full capacity, the plant is expected to boost the company's research and manufacturing capabilities for domestic high-end equipment, reducing its dependence on imported equipment.
Since 2021, projects in the zone have been selected for the list of major provincial projects over four consecutive years.
An interior view of the premises housing the Xinsu group's industrial machine tool project. [Photo/WeChat account: gh_07a864197818]