Project worth $21.9b to bolster Jinan's intelligent manufacturing

The Jinan government signed a cooperation agreement with Shandong Heavy Industry Group in an effort to promote the city's intelligent manufacturing on Dec 11.

Wang Zhonglin, Party secretary of Jinan, Sun Shutao, mayor of Jinan and Zheng Deyan, deputy mayor of Jinan, attended the signing ceremony.

According to the agreement, the group will invest 153.5 billion yuan ($21.9 billion) into the city's Laiwu district to create a high-end green intelligent manufacturing cluster.

The project aims to develop a highly efficient, highly innovative, and low cost industrial cluster and attract more high-end supporting enterprises and talents.

The project is one of the biggest investment projects in the manufacturing industry in Shandong province in recent years. It is intended to facilitate the city's industrial transformation and upgrading and promote high-quality development.

Shandong Heavy Industry Group, headquartered in Jinan, is one of China's leading and most internationally influential automotive and equipment manufacturing groups.

The group owns a number of listed companies, such as Weichai Power and Zhongtong Bus Holding Co. Its business covers power systems, intelligent logistics, automobile making, engineering machinery, luxury yachts and financial services.