Le Lézard
Classified in: Environment, Business
Subject: CON

Xinhua Silk Road: Sheng Hong Holding Group launches new energy projects in E. China's Zhangjiagang

BEIJING, Feb. 1, 2023 /CNW/ -- Sheng Hong Holding Group, a leading high-tech enterprise in Suzhou, signed a contract to settle its battery gigafactory and new energy research institute projects involving a total investment of about 30.6 billion yuan in Zhangjiagang City of east China's Jiangsu Province.

The projects will be completed in phases and are expected to generate annual revenue of more than 56 billion yuan upon completion. Among them, the first phase of the 24GWh project and the new energy battery research institute project involving a total investment of 14 billion yuan are expected to be completed and put into operation in three years, with their annual revenue expected to reach 24 billion yuan.

Han Wei, Party chief of Zhangjiagang, said that the city has been committed to creating advantageous business environment for major projects and high-quality enterprises and providing a solid guarantee for the implementation of projects.

As one of the Fortune Global 500 companies growing in Suzhou, Sheng Hong Holding Group has developed into an international high-tech industrial group integrating the whole industrial chain of petrochemical refining, new energy, new materials and high-end textiles.

Miao Hangen, chairman of Sheng Hong Holding Group, said the projects launched by the group are expected to inject impetus into the economic development of Zhangjiagang City.

In addition, Zhangjiagang witnessed the signing of 100 major projects involving a total investment of 59.72 billion yuan at a major project promotion event held on January 29, 2023, including 22 foreign-funded projects worth of 10.18 billion yuan.

Original link: https://en.imsilkroad.com/p/332497.html

SOURCE Xinhua Silk Road

These press releases may also interest you

at 04:08
Hygiene and health company Essity has entered an exclusive partnership with the global technology company Voith to develop a new tissue making process that will reduce energy and CO2 emissions while cutting water consumption by up to 95%.  After...

at 03:49
This morning, Strauss Group announced its financial results for the full...

at 03:30
OneThird, an AI-powered food tech company created to address the annual loss of one-third of all food produced due to spoilage, today announced the company has raised $3M (2.75M euros) in a late-seed funding...

at 03:15
Revolve Renewable Power Corp.  ("Revolve" or the "Company"), an owner, operator and developer of renewable energy projects is pleased to provide an update on the ongoing development activity of both its 80MWh/20MW Vernal Battery Storage project (the...

at 03:10
Protect Environmental, an industry leader in the measurement, mitigation, and monitoring of environmental carcinogens, today announced a consumer finance partnership with GreenSky®, a Goldman Sachs Company, to offer families protection and peace of...

at 03:05
AFC Energy has today launched its new ammonia cracker technology platform ? an innovative new hydrogen generation solution that aims to unlock the value of ammonia as a hydrogen carrier fuel across European and Asian energy markets. AFC Energy's...

News published on 1 february 2023 at 20:27 and distributed by: