A production base for core components of turbochargers began construction at Phoenix Industrial Park in Wuhan Economic and Technological Development Zone (WHDZ) on Dec 13.
The project received investment from Sinotec, a Shanghai-based tech company mainly engaged in research, development and application of vehicle technologies, as well as the production of auto parts.
Covering an area of 95 mus (63,333 square meters), and with total investment of around 750 million yuan ($113.5 million), the production base will be mainly engaged in providing core components of turbochargers for Volkswagen, Mercedes-Benz, BMW, Ford, Volvo, and other world-renowned auto companies.
The base is expected to commence operations in 2018, and achieve output value of 300 million yuan by 2020. By 2022, the project is estimated to realize an annual output value of 1.5 billion yuan.
A production base for core components of turbochargers begins construction at Wuhan Economic and Technological Development Zone on Dec 13. [Photo/WeChat account of WHDZ]
Representatives attend a ceremony to mark the start of construction work at Phoenix Industrial Park in WHDZ on Dec 13. [Photo/WeChat account of WHDZ]
