Kingfa ups its game in automobile industry

Construction on a global automobile material research, development and manufacturing project of Shanghai Kingfa started in Zhujiajiao Industrial Park.

As one of the major projects of Qingpu this year, it is expected to boost the company's R&D and manufacturing competitiveness in the automobile material field and the development of Zhujiajiao's new material industry.

New material is a leading high-tech industry and is one of the four backbone industries in Zhujiajiao.

Kingfa was established 20 years ago and is a leading company in the modified plastics industry. Its occupancy rate in the auto material market has reached 30 percent.

Covering more than 83,000 square meters, the newly built automobile material global innovation R&D center will lay a solid science and technology foundation for the company's development in the automotive new material sector and boost the expansion of the new material industry in Zhujiajiao, thus contributing to the creation of a 100-billion-yuan industrial cluster in the town.

Kingfa will invest 1 billion yuan (US$157.4 million) to build a research, development and manufacturing center with about 160,000 square meters and an expected output value of 5.28 billion yuan.

After completion, the company's annual output value will hit 10 billion yuan, making it the biggest new material producer in East China.

This year marks a key period for Zhujiajiao's efforts toward high-quality development, which benefits from two national strategies – the China International Import Expo and Yangtze River Delta Ecology and Greenery Integration Demonstration Zone and the spillover effect from the construction of Qingpu New City.