Construction of the facilities for the third group of twelve key projects scheduled for this year got underway recently in Changzhou National Hi-Tech District (CND), encompassing a total investment of 3.725 billion yuan.
Two projects – the facilities for Syn-The-All New Medicine and Xinri New Material – each commanded investments exceeding 500 million yuan, respectively, demonstrating the attractiveness of the district as a manufacturing location, the scale of investment that is possible there as well as the high level of production capability that is available.
STA Pharmaceutical Hong Kong Limited and Shanghai Syn-The-All Pharmaceutical Co. Ltd., two wholly-owned subsidiaries of NYSE-listed WuXi AppTec, have jointly invested in a new pharmaceutical production and R&D center in Changzhou Binjiang Economic Development Zone. Phase I of the project calls for an investment of US$98 million and registered capital of US$72 million. The commercial viability of the project has been submitted for approval and some early-stage preparatory work is underway, with the first batch of drugs expected to start rolling off production lines by the second quarter of 2015.
Furthermore, investments for some key projects have been established: 250 million yuan for the manufacturing base of China Auto Parts & Accessories Corporation; 150 million yuan for the AMJHouse LNG Fueling Device facility; 100 million yuan for the Keneng Electric Power Cooling Installation facility; and 110 million yuan for Phase II of Global Logistic Properties.
While developing an advanced manufacturing industry, CND also strives to create a modern high-level service sector, by leveraging its existing industrial bases and its advantageous location alongside or near key transportation hubs. Xinlong International Business City, doubling as both a science and technology center as well as a financial center, has already signed agreements to house the corporate headquarters of eight major companies, setting the stage for it becoming a local high-end business center in Changzhou.