PR99529

BEIJING, Feb. 2, 2023 /PRNewswire=KYODO JBN/ --

Sheng Hong Holding Group, a leading high-tech enterprise in Suzhou, signed a

contract to settle its battery gigafactory and new energy research institute

projects involving a total investment of about 30.6 billion yuan in

Zhangjiagang City of east China's Jiangsu Province.

The projects will be completed in phases and are expected to generate annual

revenue of more than 56 billion yuan upon completion. Among them, the first

phase of the 24GWh project and the new energy battery research institute

project involving a total investment of 14 billion yuan are expected to be

completed and put into operation in three years, with their annual revenue

expected to reach 24 billion yuan.

Han Wei, Party chief of Zhangjiagang, said that the city has been committed to

creating advantageous business environment for major projects and high-quality

enterprises and providing a solid guarantee for the implementation of projects.

As one of the Fortune Global 500 companies growing in Suzhou, Sheng Hong

Holding Group has developed into an international high-tech industrial group

integrating the whole industrial chain of petrochemical refining, new energy,

new materials and high-end textiles.

Miao Hangen, chairman of Sheng Hong Holding Group, said the projects launched

by the group are expected to inject impetus into the economic development of

Zhangjiagang City.

In addition, Zhangjiagang witnessed the signing of 100 major projects involving

a total investment of 59.72 billion yuan at a major project promotion event

held on January 29, 2023, including 22 foreign-funded projects worth of 10.18

billion yuan.

Original link: https://en.imsilkroad.com/p/332497.html

SOURCE  Xinhua Silk Road

Image Attachments Links:

   Link: http://asianetnews.net/view-attachment?attach-id=437649

   Caption: Photo shows the site of the contract signing ceremony on January 31, 2023 in

Zhangjiagang, east China's Jiangsu Province.