Sany Group, a leading machinery manufacturing company in China, has announced plans to invest over 10 billion yuan ($1.4 billion) in the construction of a new high-altitude machinery production base and a research institute in Huzhou's Wuxing district.

The agreement was signed between the company and the district's government in Hangzhou, Zhejiang province on Nov 23.

The high-altitude machinery production base in Wuxing will have a production capacity of 150,000 arm-type and scissor-type self-propelled aerial platforms, as well as large-scale intelligent high-altitude operational platforms. The Sany Yangtze River Delta Research Institute will focus on developing a team of scientific researchers, enhancing technological research and development, and promoting the commercialization of research achievements. These efforts will help make Huzhou a stronger and more advanced city, as well as aid in the development of a modern industrial system in the region.

The partnership between Sany Group and Huzhou dates back to the first project in Wuxing district in 2008. Over the past 15 years, Sany Group has consistently increased its investments in the area.