Qingdao Jifa, Japan’s Toray in dialysis machine joint venture

JAPAN’S Toray Corp., Toray Medical Co. and Toray (China) Investment Co. will set up a joint venture in Jimo City in June with Qingdao Jifa Group to make and sell dialysis machines.

The joint venture, with registered capital of 60 million yuan (US$9.26 million), will mainly deal with medical equipment production and the sale, import and export of related products. About 123 million yuan will be invested in the first phase of the joint venture and annual revenue is expected to reach 240 million yuan after production starts.

(Wang Yuanyuan, Shen Junlin)

Deal for textile industrial park inked in Sifang

QINGDAO Textile Group signed a contract with the Sifang District to build a modern textile industrial park in the district.

Qingdao’s textile industry has a history of more than 100 years.

The park will become another top brand in the city specialized in modern textile’s technology research and development, design, creativity, display and trading.

(Wang Yuanyuan, Lin Gang)

Battery base goes smoothly

CONSTRUCTION on a new material project solely invested by Mitsubishi Chemical Corp. is going smoothly in Pingdu.

   Among the four production lines with total investment of 260 million yuan (US$40.13 million), two are scheduled to start production in October this year.

   The second phase of the project will see four more production lines built and after the two phases are finished, the project will be the world’s largest production base for lithium batteries.

(Wang Yuanyuan, Qian Zhuo, Xu Weijun)