Projects worth nearly $300m inked in Zhoushan

Local authorities and company representatives attend the signing ceremony for two big projects worth nearly $300 million, in the Dinghai district of Zhoushan, in East China's Zhejiang province. [Photo/zhoushan.cn] 

An investment promotion meeting was recently held in the Dinghai district of Zhoushan in East China's Zhejiang province, where two big projects worth a total of nearly 2 billion yuan ($300 million) were inked. 

One of the projects, worth more than 550 million yuan, focuses on R&D, production and sales of intelligent equipment used in special circumstances and in emergency rescues. 

According to Lu Wentao, general manager of the company investing in the project, the enterprise decided to locate the project in Zhoushan because it believed the city has a burgeoning marine economy and a sound business climate. 

Another project, worth 1.38 billion yuan, will build a construction materials production facility in Zhoushan.

The project will cover an area of around 534,000 square meters and involve the building of a 50,000 ton, a 5,000 ton and a 2,000 ton dock. It is expected to produce 1.5 million cubic meters of construction materials every year that will contribute to the city's infrastructure building, the project leaders said.