New materials industry advances in Huangpu

A strategic cooperation agreement was signed between the Institute of Corrosion Science and Technology and the Guangzhou Development District Investment Group to jointly build a new materials industrial park and fund.

With an investment of 1.6 billion yuan ($252.2 million), the new materials industrial park covers 37,000 square meters off Hulin Road in Guangzhou's Huangpu district. It boasts a convenient transport with the Guangyuan Express Road in the vicinity.

The industrial park is comprised of office areas, labs, platforms for pilot scale testing, and talent apartments. It plans to bring in and incubate 10 high-tech enterprises, which are expected to generate an industrial output value of 8 billion yuan to 10 billion yuan.

The Institute of Corrosion Science and Technology and Guangzhou Development District Investment Group at the signing ceremony.

The establishment of the industrial park will accelerate the R&D and industrialization process of corrosion-resistant new materials in key areas like smart manufacturing, rail transit, aeronautics and astronautics, ships, and new energy.

The two parties will also establish a 1-billion-yuan fund to invest in high-quality enterprises from emerging industries such as metal corrosion protection and new materials, equipment manufacturing, biology and health, and new energy.

In addition, the Institute of Corrosion Science and Technology and Guangzhou Development District Investment Group will cooperate in hosting high-level forums and training sessions relying on their respective strength.