Gree Electric Appliances Inc., started construction on its 5-billion-yuan (736 million U.S. dollars) industrial park in southwest China’s Sichuan Province.
Gree aims to build its industrial park in Xinjin County of Chengdu, the provincial capital of Sichuan, into a manufacturing base for smart home appliances.
With an investment of about 2 billion yuan, the first phase covers 40 hectares of land and would churn out 3 million washing machines a year, with annual industrial output estimated to reach 6 billion yuan.
Dong Mingzhu, chairwoman of Gree Electric Appliances, said this is Gree’s first production base in Chengdu and Gree plans to build more plants there for refrigerators, life electric appliances and intelligent equipment.
The industrial park will attract more suppliers to settle in Chengdu, thus helping promote the industrial base development and optimize the industrial cluster and structure in southwest China, said Dong.―Xinhua