Xinhong Heavy Industry invests RMB 3 billion to build light alloy auto parts base
On November 12, 2010, Xinxing Heavy Industry Co., Ltd. and the government of Xiangfan City of Hubei Province signed the "Investment Cooperation Agreement of the Xinxing Heavy Industry (Xiangfan, Zaoyang) Industrial Park Project" in Beijing.
Xinxing Heavy Industry Co., Ltd. is a subsidiary of Xinxing Ductile Iron Pipes Group. During the “Twelfth Five-Year Plan†period, it will strive to build the strongest and largest light (heavy) metal resource (light alloy auto parts and components ) production base in China; the strongest and largest emerging energy source Equipment R&D and manufacturing base; the strongest and largest R&D and manufacturing base for military special equipment; the strongest and largest R&D and manufacturing base for emergency rescue equipment. To this end, Xinxing Heavy Industry will invest nearly 3 billion yuan to build the Xinxing Heavy Industry (Xiangfan, Zaoyang) Industrial Park, and build the most competitive light alloy auto parts R&D and production base in China, and the rutile comprehensive utilization R&D and production base.
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