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Liuheng Island's advanced equipment manufacturing industry receives boost

Updated : 2023-09-06 (

Agreements to build two advanced equipment manufacturing facilities on Liuheng Island, Zhoushan, East China's Zhejiang province, were recently signed.

One facility is a 100-million-yuan ($13.66 million) automation irrigation control system production project invested by Ma Tianxiong from the University of Oxford. It will establish an automated irrigation control system production line, with an estimated annual output value of 120 million yuan and an annual tax revenue of about six million yuan.

The other facility is a 105-million-yuan equipment and instrument production project invested by Wang Lei from University College London. It aims to build a production line for stamping, sheet metal, and automobile parts, and is expected to achieve an annual output value of 80 million yuan.

For the foreign trade industry, Liuheng has a natural advantage in ports and convenient transportation and logistics. In addition, the construction of the Liuheng Bridge is also a critical factor. The upcoming "half-hour transportation circle" between Ningbo and Liuheng will be very advantageous for transportation, said Wang.

The two facilities will bring new technologies and provide more jobs to the island as authorities continue efforts to attract more projects related to equipment manufacturing and clean power, said a local official.