East China's Zhenjiang sees RMB15 bln project launched with improved business environment

Photo: Foundation stone laying ceremony of Farasis (Zhenjiang) manufacturing base in east China's Zhenjiang City on October 26 

BEIJING, Oct. 27 (Xinhua) -- Zhenjiang New Area in east China's Jiangsu Province has made efforts to improve its business environment in recent years, with a 15-billion-yuan project launched on Friday, a new achievement of its efforts.

The project of Farasis (Zhenjiang) manufacturing base, initiated jointly by Farasis Energy (Ganzhou) Inc., China Reform Holdings Corporation Limited and Zhenjiang New Area, was launched in Zhenjiang on Friday.

It is reported that the project will be implemented in two phases. After completion, the annual production capacity of the automotive power battery will reach 20Gwh, which will likely meet demands of 400,000 new energy vehicles per year.

To be specific, the first phase of the project with an annual capacity of 16Gwh is expected to be completed in 2019.

The high-quality and high-performance batteries produced at the manufacturing base will be supplied not only to major domestic automakers, but also to international customers such as those from Europe. 

The implementation of the project fully demonstrates investors' optimism about Zhenjiang's development and their high expectations for the project. The manufacturing base will provide new driving forces for the development of Zhenjiang's new energy industry, said Zhang Yefei, mayor of Zhenjiang City.

The project is of important significance to Farasis Energy (Ganzhou). It will greatly promote the company's progress towards the goal of becoming a world-class Chinese company, said Wang Yu, chairman of Farasis Energy (Ganzhou).

In recent years, Zhenjiang New Area has focused on service innovation and entrepreneurial development and striven to create a high-quality and efficient business environment. In a comprehensive evaluation of the entrepreneurial innovation environment in Jiangsu last year, it ranked first among the province's development zones. (Edited by Hu Pingchao, hupingchao@xinhua.org)