A signing ceremony consisting of representatives from the Ejin Horoo Banner government, Hangzhou Aleisi Hydrogen Energy Technology Co, Xuzhou Xugong New Energy Automobile Co and Inner Mongolia Xinyuan Power Hydrogen Energy Technology Co is held on Nov 26. [Photo/Ejin Horoo Release]

Ejin Horoo Banner in Ordos city, North China's Inner Mongolia autonomous region signed an agreement on Nov 26 to build a new energy industry strategic cooperation project in the area.

The project will jointly operated by the Ejin Horoo Banner government, Hangzhou Aleisi Hydrogen Energy Technology Co, Xuzhou Xugong New Energy Automobile Co and Inner Mongolia Xinyuan Power Hydrogen Energy Technology Co.

The project will include new energy vehicle equipment manufacturing, hydrogen fuel engine manufacturing, and the construction of smart mines.

The total investment of the project amounts to 2.3 billion yuan ($345.09 million).

Once operational, the annual output value of the project is estimated to reach 19.5 billion yuan, sales are expected to reach 60 billion yuan, and taxes will amount to about 2.58 billion yuan.

The project is expected to fill the gap in Ejin Horoo Banner's new energy mining machinery manufacturing industry, reinforce the administrative division’s new energy heavy truck core component manufacturing industry chain, and systematically improve its coal intelligent and green production level.