A groundbreaking ceremony for two key industrial projects was held at Guiyang National High-tech Industrial Development Zone – also known as Guiyang HIDZ – in the capital city of Southwest China's Guizhou province on Dec 14.
According to Guiyang HIDZ officials, the two industrial projects started construction in the zone, with a total investment of 5.68 billion yuan ($810.3 million).
Officials said the two projects are an aluminum alloy cable plant for Guizhou Qiantong Cable Co Ltd and the first phase of auto parts plant for Evergrande New Energy Vehicle (Guizhou) Co Ltd.
The aluminum alloy cable facility is located in Shawen ecological science and technology industrial park of the Guiyang HIDZ, covering a total area of 64 mu (4.27 hectares). The company will build production lines of alloy cable, power cables, mining cables and marine cables.
A company spokesman said that three years after the completion of the plant, it will have the capacity of annual production of 1 million meters of aluminum alloy cable.
He said it would achieve an annual output value of 600 million to 1 billion yuan, hire 50 top professionals and create over 1,000 job positions.
The plant is expected to contribute to the structural adjustment of power supply side and the high-quality development of new materials industry in Guizhou province.