The commencement ceremony for Wuxi National Hi-tech District's major projects is held in WND on April 29. [Photo/wnd.gov.cn]
The commencement ceremony for Wuxi National Hi-tech District's major projects and Jiangxi Jemincare Group Co's industrialization of biomedical innovative technology and new drug project was held in WND on April 29.
A total of 40 major projects will be carried out in WND in the second quarter of 2020, costing a total of 19.8 billion yuan ($2.8 billion), of which 7.3 billion yuan will be allocated this year, according to officials.
The projects will include 21 high-end manufacturing projects, nine modern service projects, six infrastructure projects and four projects related to social businesses.
Jiangxi Jemincare Group Co, one of the top 10 Chinese medical enterprises, will invest 3 billion yuan to realize the industrialization of biomedical innovative technology and develop new drugs.
The company will spend 1 billion yuan to build an advanced pharmaceutical production base integrating R&D, pilot testing, new drug conversion, and manufacturing. It will expand its former production base in Wuxi to accommodate the first phase of the project, which will include work on production, testing and storage of high-end preparations. It is expected to be put into operation in 2022. The second phase will be used as an R&D center and office area.
The two phases are expected to produces sales revenue of 1 billion yuan until 2026, according to the company.
