Proceedings begin at a groundbreaking ceremony in Taixing. [Photo provided to etaizhou.gov.cn]
A mass groundbreaking ceremony for 26 industrial projects, costing over 100 million yuan ($14.59 million) each, took place on Feb 18 in Taixing – a county-level city administered by Taizhou, in East China's Jiangsu province.
The total investment of the 26 projects is 10.82 billion yuan, of which 12 will involve capital expenditure of 500 million yuan to 1 billion yuan each and one project will cost over 1 billion yuan.
The newly started projects cover cutting-edge industries such as new materials, new energy and the health sector – with a large scale, good development potential and high-level technology.
In the Taixing Economic Development Zone, a new materials sealing plant costing 75 million euros ($79.64 million) is being funded by Soudal Holding N.V. from Belgium. As Europe's largest manufacturer of sealants, adhesives and foams, the company aims to build its biggest overseas factory in Taixing.
The plant will start operating in the first half of 2025 and is forecast to generate 1.5 billion yuan in annual sales.
In the current year, plans are for Taixing to sign up a total of 200 projects, valued at over 100 million yuan each.