The signing ceremony for the Dayang Industrial Park project is held in Rudong county, Nantong, East China’s Jiangsu province, on Aug 8. [Photo/rdxmt.com]

Rudong is to get a new industrial addition that is expected to be a major economic driver. Rudong Economic Development Zone and Dayang Futong Investment Group (Hong Kong) Co Ltd signed a strategic cooperation agreement on Aug 8 to establish an industrial park in the zone.

The Dayang Industrial Park, specializing in development, production and sales of silicone products, is located in Rudong Economic Development Zone in Rudong county, Nantong, in East China’s Jiangsu province. Officials said it has received 3 billion yuan ($4.23 billion) in funding from its owners.

The industrial park will comprise of two projects: a silicone product manufacturing plant and a corporate headquarters. 

Silicone is a synthetic polymer -- as distinct from the naturally occurring chemical element silicon – employed in silicone rubber that is used in wide range of sectors including the aerospace, construction, oil and gas, communications infrastructure, white goods and automotive industries.   

The silicone product plant will cover an area of 10 hectares and have a total investment of $150 million. It will mainly engage in the production and sales of silicone products, electronic film switches, electronic touch buttons, plastic products and molds.

The manufacturing facility is expected to generate an annual output value of 1.5 billion yuan, and an annual taxes of 200 million yuan.

The other facility in the industrial park will serve as the offices of Dayang Futong Investment Group (Hong Kong) Co Ltd, the company's financial center, the research and development center and its sales center. It will also become a hub for Rudong’s modern services industry. 

Officials said once the facility is put into use, it will generate annual sales of about 4 billion yuan and annual taxes of 400 million yuan.

Rudong Economic Development Zone was chosen as the site of Dayang Industrial Park due to its location advantages and promising development potential, according to Shi Qi, chairman of the investment company.

Rudong Economic Development Zone is located on the north wing of the core area of the Yangtze River Delta region, and it is riding the crest of a wave of major national strategic opportunities presented by the Yangtze River Economic Belt, Yangtze River Delta integration development, and Jiangsu coastal development.