Tianjin’s Binhai New Area inks 82 key projects worth 58 billion yuan

The Binhai New Area in North China's Tianjin held an online investment promotion and contract signing ceremony on April 9. The event saw the signing of 82 key projects worth 58 billion yuan($9.1 billion), six of which are foreign invested.

The following are some key projects inked at the online ceremony.

ExxonMobil (Tianjin) Petroleum Company will upgrade its petrochemical products, which will help advance the green development of the petrochemical industry in the area.

Sunpower New Energy Company will invest 2.5 billion yuan to promote the utilization of liquefied natural gas (LNG) in Nangang Industrial Park. Its smart electric stations and other facilities will be put into use in 2025.

Shandong Novoshine Optoelectronics is mainly involved in the research and development of optoelectronic integrated display screens.

The firm will set up a wholly-owned subsidiary in Binhai and invest one billion yuan to build a research center and vertically integrated manufacturing plant for third-generation semi-conductor display chips. The annual turnover of the project is expected to surpass one billion yuan after it is put into operation.

China Reform Financial Leasing Project is a financial leasing project independently owned by China Reform Holdings Corporation. The financial leasing firm is committed to piloting the reform of state-owned capital, creating a financial service platform for central state-owned enterprises (SOEs) and fostering their competitive strengths. So far, the financial leasing firm has offered central SOEs financial services worth over 100 billion yuan since 2016.

Canadian WoodBridge Corporation, the largest global supplier of foam materials for car seats, will set up a manufacturing center for producing interior ornamental materials. Its buyers may include such automakers as Toyota, Volkswagen, Mercedes-Benz and Great Wall Motor in north China.

Tianjin Lihe Industry and Trade Co., Ltd. will register its headquarters in Sino-Singapore Tianjin Eco-City and invest 320 million yuan to build its headquarters and a smart manufacturing plant for auto parts in collaboration with China FAW Group. The project will create 700 jobs when it is put into operation and its annual business turnover and taxation is expected to reach 370 million yuan and 24 million yuan, respectively.

Jointly built by Tianjin Binhang Enterprises Services Technology Co., Ltd. and the Institute of Automation in the Chinese Academy of Sciences (CAS), this project will boost rural revitalization, promote industrial development with digital technology, improve the business environment, and accelerate the building of a balanced urban and rural primary public services system.

Rianlon (Tianjin) Pharmaceutical Company has focused on the production and sales of drugs, medical equipment and cosmetic products along with the research, development and promotion of medical technologies. With an investment of 360 million yuan, the project will mainly produce raw materials such as vitamin K2 and its key intermediate geranyl-linalool.

This industrial park is being jointly launched by Huarong Industrial Group and Tianjin Auto Parts After Market Association. It is positioned to be an auto commercial and cultural creative industrial zone and is set to accommodate over 500 manufacturers of auto parts. The volume of its annual business turnover is estimated to surpass 10 billion yuan.