Taixing city, administered by Taizhou city in East China's Jiangsu province, has been ranked first in project construction assessments in Taizhou for eight consecutive years now.
Focusing on major projects, Taixing has scaled up its investment marketing and project construction to maintain a strong development momentum.
In the Taixing Huangqiao Economic Development Zone, a pre-plated nickel steel strip production plant for high-end lithium batteries is listed as a major provincial project.
With a total investment of 3.07 billion yuan ($429.62 million), the endeavor is divided into two phases. The first phase involves capital expenditure of 846 million yuan and has been put into production, while the second phase involves an investment of 2.22 billion yuan.
When at full capacity, the plant is predicted to generate annual invoiced sales of 4.5 billion yuan.
Work gets underway at the production plant operated by Jiangsu Youzhi New Energy Technology Co Ltd. [Photo/WeChat account: txfabu]
Elsewhere in the Taixing High-tech Zone, a factory being run by Jiangsu Youzhi New Energy Technology Co Ltd is engaged in producing new energy passenger vehicle battery trays, supplying top automakers including BYD and Great Wall.
In June 2022, the company invested 500 million yuan to purchase 106 sets of equipment and its first production line was launched in early September of that year.
Taixing is currently setting project construction goals for 2024, moving to break ground on 100 projects worth over 100 million yuan each and complete the construction of 80 projects worth over 100 million yuan apiece.