Zhonghe Wanjia Company will invest 5 billion yuan ($719.42 million) to build a modern agricultural technology industrial park in Dalad Banner in the city of Ordos in North China's Inner Mongolia autonomous region.

The industrial park will be established in the banner's Fengshuiliang town, and is planned to be completed within three years.

The park's main construction includes fruit and vegetable planting bases; a feedlot for 150,000 beef cattle and 1 million mutton sheep; a livestock slaughtering and segmentation processing factory; a cooked product and offal processing factory; a warehousing, logistics and trading center; and a business service center.

The project aims to build Fengshuiliang town into a demonstration base for planting, breeding, intensive processing, and trading of agricultural and livestock products.

When the project is put into use, it is estimated to realize an annual output value of 10 billion yuan and have an annual net profit of 1 billion yuan, playing an essential role in boosting local rural vitalization.