CRCHI invests 10b-yuan industrial park in Changsha
A 10-billion yuan ($1.51 billion) agreement was inked between the management committee of the Changsha Economic and Technological Development Zone and China Railway Construction Heavy Industry Co (CRCHI) on Nov 29 to build a regional world-leading industrial park for rail transit equipment.
According to the agreement, the 1,700-mu (113.33 hectares) industrial park will be used to produce a wide range of rail track equipment, including maglev trains, mounted monorail trains, straddling monorail trains, and tramcars, in addition to eight innovative test tracks.
The signing of the project is of great significance to Changsha as it becomes a national hub for smart manufacturing. It's expected to inject strong impetus into real economic development by optimizing Changsha's industrial structure and fostering new sources of growth.
CRCHI, a wholly-owned subsidiary of the Fortune Global 500 company China Railway Construction Corporation, opened its Changsha base in 2007 and has since developed several products filling market gaps around the world.
With annual output in excess of 10 billion yuan, it exemplifies Changsha's smart manufacturing industry.
The capability of its equipment manufacturing industry is an important reflection of a city's comprehensive strength and competitiveness, said Hu Henghua, secretary of the Changsha municipal Party committee, in his speech at the signing ceremony.
The city has set a goal of being a national hub for smart manufacturing, innovation and creativity and transportation, Hu added.
The new industrial park will help complete the industrial chain of rail transit equipment and promote transformation and upgrading of the industry.
Meng Fengchao, president of CRCHI, said that the project will open a new chapter of CRCHI development in the Hunan province capital.
The company will make large contributions to Changsha's developing rail transit and equipment manufacturing industries through its advanced technologies and innovations.
Changsha's government will create a good environment and offer quality support to ensure the project is a success.
Source: Changsha Evening News