Deals worth 10.3b yuan signed in Wuxi

Five projects worth 10.3 billion yuan ($1.46 billion) were signed between the Wuxi National Hi-tech District (WND) and Asia Pacific Resources Development Investment Ltd (APRD) on June 23.

According to the agreement, APRD will integrate the holding and shareholding subsidiaries and introduce their business partners and customers to start business in the WND.

Wuxi Suntech Power Co, a photovoltaic technology company, will invest 1 billion yuan to expand the production of its 1.5 gigawatt-hours high-efficiency module and carry out intelligent transformation of its factories. The annual sales of the company are expected to reach 10 billion yuan after it becomes operational.

In addition, Wuxi Suntech Power Co is planning to build a 150,000-square-meter intelligent component factory in the WND to produce its 5 gigawatt-hours next-generation high-efficiency module.

With an investment of 6 billion yuan, BiBo Pharma Scientific Co will develop customized R&D solutions and a production platform for biological medicine in the WND. Wuxi Ubocare Life Technology Co will carry out R&D for its far infrared ceramic light wave material and industrialization project in the WND as well.

The APRD is committed to advancing clean energy integrated solutions. The company has multiple businesses including photovoltaic product manufacturing, solar power generation, new energy vehicles and energy storage, basic energy chemicals, biopharmaceuticals and ocean fishing.

Wuxi Suntech Power Co, which was acquired by APRD in 2013, earned nearly 8 billion yuan in sales revenue in 2019.