The Xingang Integrated Circuit Equipment Components and Materials Industrial Park is located in Wuxi New District, Jiangsu province. [Photo/WeChat account: xinwu_wx]

The inauguration ceremony for the Xingang Integrated Circuit Equipment Components and Materials Industrial Park was held in Wuxi New District, Jiangsu province on Oct 7.

The industrial park is focused on the research, development, and manufacturing of integrated circuit equipment, core components, and materials. With a total investment of 980 million yuan ($134.35 million), the park covers an area of about 10 hectares and includes 11 research and production buildings, three talent apartments, and one parking garage.

Currently, agreements have been signed on projects in the park with a total investment exceeding 20 billion yuan. They are expected to generate annual revenue of 4 billion yuan.

It was noted during the ceremony that in the fourth quarter of this year, construction will start on 18 major projects with a combined investment exceeding 10 billion yuan, spanning high-end optical chips, new energy vehicle components, and innovation platforms, among other areas.

Additionally, the fourth quarter will also see the completion of 35 major projects, with a total investment exceeding 15 billion yuan and involving high-end equipment, new materials, special food, and other areas.