A rendering of an intelligent manufacturing base of marine equipment in Zhoushan, East China's Zhejiang province. [Photo/WeChat account: zjzsqdxq] 

Zhoushan in East China's Zhejiang province signed agreements to launch three projects with a combined investment of 14.7 billion yuan ($2.12 billion) at the 6th World Zhejiang Entrepreneurs Convention which took place in Hangzhou, capital of Zhejiang, from Dec 23 to 24. 

The three projects, which are related to new material, new energy and intelligent manufacturing, will play a significant role in advancing the city's high-quality development, said local authorities. 

One project funded by Rongsheng New Material (Zhoushan) Co Ltd will cost 10 billion yuan to build. The facility, which is expected to produce 1.2 million metric tons of Acrylonitrile Butadiene Styrene (ABS) material, is a downstream project in the petrochemical industrial chain. 

Another project, which is invested by Shaanxi Jutai New Material Technology Co Ltd, will cost 3.5 billion yuan to build. The facility is expected to produce 200,000 tons of high-quality nickel sulfate a year. 

The third project is an intelligent manufacturing base of marine equipment that Zhejiang Wanma United Holdings Group Co Ltd will spend 1.2 billion yuan to build.  

Zhoushan authorities have also established a special task force to provide better services to these enterprises to ensure the construction of the projects can begin as soon as possible.

Agreements for 24 projects related to infrastructure, people's livelihoods, pillar industries and cooperation between financial institutions and enterprises were also signed at the conference. 

Organized by Zhejiang provincial government, the World Zhejiang Entrepreneurs Convention is the largest and the most influential event for Zhejiang businessmen in the province. The event, which was first held in 2011, takes place every two years.