Agreements for 10 projects with a total investment of 4.26 billion yuan ($615.49 million) were signed in the High Tech Industrial Zone of Zhoushan in East China's Zhejiang province on Sept 7. 

The projects are related to industries such as new chemical materials, aeronautical manufacturing, intelligent equipment, cross-border e-commerce, and oil and gas trading. 

One of the projects is a polymerized styrene butadiene rubber (SSBR) facility that will cost 2.2 billion yuan to build. The facility is expected to generate an annual output value of 3.5 billion yuan, according to authorities. 

The facility will be focused on the research and development of the cutting edge technologies of SSBR and will play a leading role in improving the country's competitiveness in the SSBR industry. 

Three new chemical materials projects with an investment of 1.6 billion yuan will be key to establishing a complete green petrochemical industrial chain, said the person in charge of the management committee of the High Tech Industrial Zone. 

The zone had welcomed 12 projects with a total investment of 8.96 billion yuan in the January-August period, and these projects will make full use of the zone's idle factories. 

As of the end of August, the zone had seen an investment of 2.56 billion yuan in fixed assets, a year-on-year increase of 120 percent.