Jinshan inks deals on key industrial projects
Deals on nine major industrial projects worth billions of yuan were signed today in Shanghai's suburban Jinshan District.
Tech giant Alibaba plans to set up an independent production line consisting of 100,000 servers to fuel its cloud manufacturing project and build a reliability lab to test state-of-the-art products, which are estimated to generate output worth 5 billion yuan (US$736 million).
It is expected to meet Alibaba's cloud division Aliyun's large computing needs and provide server support to data centers across the country.
BASF Care Chemicals (Shanghai) Co, a local joint venture of the German chemical giant BASF, will invest 280 million yuan in a high-end skincare and cosmetics project. After completion, it is estimated to create an annual output of 525 million yuan.
The life and health industries are also interested in the growth of Jinshan. Shanghai Yuyuan Tourist Mart (Group) Co aims to invest 415 million yuan in a healthy living demonstration zone.