The second phase of a stainless steel deep-processing industrial park – located in Jingjiang city, in East China's Jiangsu province – is stepping up the pace of the build, ensuring that some of its projects start operating this year.
In the first phase, six high-end projects covering stainless steel wire, bars and tubing materials, have kicked off production.
The park, costing 12 billion yuan ($1.66 billion) in total, is predicted to play a key role in Jingjiang's efforts to develop a 100-billion-yuan level industrial cluster for new metal materials.
One of the investors, Zhejiang Yongjin Metal Technology Co Ltd– an influential cold-rolled stainless-steel manufacturer in China – decided to invest 2 billion yuan to build production lines with an annual output of 1.2 million tons in Jingjiang soon after the stainless steel deep processing industrial park settled in the city.
The main construction of Jingjiang Yongjin Metal Technology Co Ltd's new factory is nearing completion. [Photo/WeChat account: jingjiangfabu]
According to company general manager Deng Bohao, the main build of the factory has now neared completion.
The first phase of Yongjin Metal's Jingjiang factory, including the construction and installation of two production lines, will be completed and start trial production at the end of September.
Overall, Jingjiang city itself is expected to make every effort to attract investment projects to further boost the industry supply chain and transform itself into a domestically influential hub for stainless steel deep processing.