The agreement-signing ceremony of ThyssenKrupp’s spring and stabilizer bar project in Pinghu has been successfully in Pinghu Economic and Technologic Development Area. The municipal leaders including Qi Hailong, Qian Yongbiao and Zhou Diming have attended the ceremony.
ThyssenKrupp is a Global Fortune 500 company and the products range include areas of steel, auto technology and machine manufacturing. The registered capital for Phase I project of springs and stabilizer bars has amounted to 15 million USD and a total investment of 45 million USD. The covering area is 67.5 mu. The project is expected to start in April of 2017 and complete by December. It is expected to put into operation by the middle of 2018. After the Phase I is put into operation, the annual output is expected to reach 3.8 million springs and 1.5 million stabilizer-bars. After the two phases are both put into operation, the annual output is expected to reach 800 million RMB and the annual tax revenue is expected to reach 80 million RMB. The settling of this project will further quicken the development of auto parts industry in Pinghu, raise the comprehensive competitiveness of Germany industrial park and enlarge the brand influence of business attraction to Germany companies.
Qi Hailong, Party Secretary of the Municipal Committee extended warm welcome on the successful signing of the agreement. He also made formal commitments to the investors that Pinghu will adhere to the concept of “be-friending, assuring, and enriching businessmen” and provide one-stop quality services to ThyssenKrupp’s project in Pinghu with the experiences of serving foreign-capital companies in the past decades to ensure the early completion.