The signing ceremony between Gosun Group and Wuxi's Xishan district for a new industrial town is held on April 1. [Photo/WeChat account: news-wuxixinwen]
Guangdong-based Gosun Group agreed to build its new industrial town, known as the "Wanshan Lake Intelligent Valley", in Wuxi's Xishan district on April 1.
The industrial town will cost 10 billion yuan ($1.42 billion) and cover an area of 728 mu (48.53 hectares), of which 488 mu will be used to develop industries focusing on intelligent manufacturing, and 240 mu of which will be used for commercial and residential land.
Gao Yaguang (second from right), vice mayor of Wuxi, learns about the new project. [Photo/WeChat account: news-wuxixinwen]
As the first of its kind in the Yangtze River Delta Area, the new town will work to develop a high-level industrial cluster for equipment and electronics with supporting systems for life services.
The town will be built in the Wuxi Xishan Economic and Technological Development Zone and aims to attract over 800 enterprises and headquarters. It is expected to generate 12 billion yuan in annual revenue.
Copyright © China Daily. All rights reserved.