New metarial project settles on Xishan district

An agreement is signed between the Wuxi government and Semcorp. [Photo/Wechat account: SinoBattery]

Around 5 billion yuan ($790.1 million) will be invested into Wuxi for a new material project, according to an agreement between the Wuxi government and Semcorp, a national leader specializing in the development and production of high-consistency, high-safety Lithium-Ion battery separator products.

"New material is the frontrunner of industry," said Li Xiaomin, secretary of the municipal CPC committee in Wuxi. The city has established the new material industry as a force to boost local economy. The new material project in Wuxi is expected to become the largest producer of the material, globally.

Semcorp specializes in the development and production of high-consistency, high-safety Lithium-Ion battery separator products. [Photo/semcorpglobal.com]

Semcorp is a Shanghai company founded in 2010. Its cutting-edge technology leads the industry internationally. Its net profit reached 400 million yuan in 2017, with the cooperation between Wuxi and Semcorp aiming to contribute towards a more prosperous future for the city.