Tianjin Investment News: August 28, 2008

Thursday, August 28, 2008 0:49

TEDA ADMINISTRATIVE COMMISSION AND REICHHOLD POLYMERS (TIANJIN) INKS AN AGREEMENT ON INVESTMENT AND COOPEATION
Recently the Administrative Commission of TEDA and Reichhold Polymers (Tianjin) Co., Ltd. held a ceremony for signing an agreement on investment and cooperation in the Investment Service Center.

It is introduced that Reichold is the world’s largest resin supplier and one of the top 100 manufacturers in the U.S. It specializes in providing epoxy vinyl ester resin, gelcoat resin, and structural adhesive. It boasts over 80 years of history in the research of polymeric material and related technologies and is capable of providing a complete range of solutions. In 2007, Reichhold saw its revenue over 1.2 billion dollars worldwide.

With 13 million euros of investment in its first stage and occupying a land of 46,000 m2, Reichhold Polymers (Tianjin) Co., Ltd. set up by Reichhold plans to produce 500,000 ton of synthetic resin and is expected to have its industrial output value up to 500 million yuan in the year when production begins. With turbine blade producers as its main clients, the company wills sell most of its products in the Chinese market. (Tr. by Chen Yu)

TEDA HOSPITAL SINO-GERMAN INTERNTIONAL MEDICAL REHAB CENTER OPEND IN TEDA
TEDA Hospital Sino-German International Medical Rehab Center, a medical rehab center featured by internationally advanced equipment and medical treatment, was recently opened in TEDA Hospital.

The center is co-established by REHA-Training of Leverkusen, Germany and SOREHA. The center will provide professional services to athletes and patients.

It is introduced that the center covers a construction area of over 10, 000 m2. In the center nearly 30 kinds of medical rehab services are available, such as the tests and trainings related to strength, balance, function, and trunk muscle. Besides, German sports medicine experts provide guidance all the year round.

KOREAN EXCHANGE BANK OPENS A SUB-BRANCH IN THE TBNA
The first sub-branch of Korean Exchange Bank (KEB) in Tianjin, Binhai Sub-branch, recently opened its business in the Financial Street of TEDA. It will provide domestic and foreign currency services, such as cash management, credit, settlement, financing, counsel, etc.
Mr. No Chan, Deputy Governor of KEB, said at the opening ceremony that with its confidence in the future development of the TBNA’s financial sector, KEB decided to set up its China-based legal-person bank in Tianjin. According to Mr. Lee Gwang Hygeon, Governor of Tianjin Branch of KEB, the on-going application for registration is expected to be approved in September.

KEB was founded in 1967 and headquartered in Seoul. With 38 branches in 19 countries and regions, KEB boasts the largest scale of overseas business and outlets among South Korean banks. At present, it has branches in Beijing, Tianjin, Shanghai, and Dalian. (Tr. by Chen Yu)

TEDA SIGNS LOI WITH JINLU STEEL
Recently, TEDA signed a cooperative agreement with Tianjin Jinlu Steel Industry Co., Ltd at the TEDA Investment Service Center. Mr. Ni Xiangyu, Vice Chairman of the TEDA Administrative Commission and Mr. Wen Jie, Chairman of the Board of Jinlu signed on the agreement on behalf of their respective side.

Before the signing ceremony, Ni Xiangyu cordially received Mr. Wen Jie and the Jinlu delegation and briefed the guests on the ambitious plans of TEDA and TBNA. Mr. Ni said that the TEDA Administrative Commission is willing to offer the best possible services to Jinlu and wished the company a great success.

Chairman Wen Jie expressed gratitude to TEDA’s vigorous support and promised further cooperation and more contributions to the region.

Jinlu has invested 380 million RMB this time. It is now planning a steel processing and trading center with an annual processing capacity of 600,000 tons and annual sales volume of 400,000 tons. (Tr. by Zhang Shanshan)

TEDA WITNESSES ROBUST INVESTMENT GROWTH IN JULY
This July, 16 foreign-funded enterprises were newly approved and 14 made new investment, involving 613 million dollars of investment, 370 million dollars of contracted investment, and 76 million dollars of actually funded investment. Also, 57 new domestically-funded enterprises were registered, with a total registered capital of 735 million yuan.

So far this year, TEDA has newly approved 81 foreign enterprises and saw the reinvestment from 113 enterprises, involving 4.583 billion dollars of investment, 2.907 billion dollars of contracted investment(up 24.44% y-o-y) and 1.336 billion dollars of actually-funded investment (up 24.51% y-o-y).

Among the newly approved foreign-funded enterprises, ten registered an investment of 10 million dollars each and 12 were invested by multinationals. Tianjin Difu Retail Store Operation & Management Co., Ltd., Tianjin Hezhuo Wind Electricity Equipment Manufacture Co., Ltd., Tianjin Cube Investment Management Consulting Co., Ltd., Pharmaron (Tianjin) Process Development and Manufacturing Co., Ltd., and Tianjin Dalyson Trading Company, Ltd. began to inject new vigor to local economy.

Among the reinvestors, brand-name companies such as Hanwei Green Energy Equipment (Tianjin) Co., Ltd., Tianjin Great Wall Lean Automotive Parts Company Limited, Tianjin Great Wall Wantong Automotive Parts Company Limited have all expanded capacity for further growth in the TBNA. (Tr. by Zhang Shanshan)

MICROELECTRONICS INDUSTRIAL PARK OF TEDA DID A GOOD JOB ON INVESTMENT ABSORPTION IN THE FIRST HALF OF 2008
In the first half of 2008, the Microelectronics Industrial Park of TEDA has done a good job on investment absorption, making new breakthroughs in improving the quantity and quality of investment. In the first half of this year, investors made 137 million dollars of investment within the Park, among which three companies added their investments and another three new ones were registered. The Park has completed the task for performance appraisal and investment introduction plan of this year ahead the schedule. At present, the Park has attracted altogether 98 enterprises, with a total investment of 1.34 billion dollars, and seen an investment density of nearly 1,400 dollars/m2, taking a leading position among other Chinese industrial parks.

First, focusing on Samsung Telecom Technology, the Park implemented the strategy of investment increase and production expansion and promoted mobile phone-related companies to increase investment. Such three key companies as Samsung Telecom, Samsung SDI Mobile Display and P&Tel added 126 million dollars investment. Second, Rohm has started to implement its strategy of investment increase and production expansion and will add 25 million dollars of investment, bringing its total investment to 270 million dollars. With new production lines of large scale ICs, the company in Tianjin will become the largest production base of Rohm worldwide. Third, the R&D center of Hyundai Hi-Tech Electronics of South Korea has settled down in the Park and will start its operations soon. The Center will provide technical support for Rohm’s global production. In June Hyundai Hi-Tech Electronics added 3.5 million dollars of investment to set up a R&D center of high-end auto electronics products in the Park. Two years later the company will have a total investment of 10 million dollars and a 200-person R&D team, and become a largest R&D center of Hyundai Autonet outside South Korea. Fourth, it has been confirmed that China Samsung Electronics R&D and Certification Center will be located in the Park and start its project construction in the second half of this year, with its investment up to 10.7 million dollars. Its future annual expenditure on R&D will reach 10 million dollars. After its completion, the Center will provide technical support and certification for all electronics products made by Samsung in China. Fifth, major progress has been made on the remaining problems about the factory building of Hyundai Electronics Multimedia. After rounds of coordination, the company’s original equipment in the factory building is being dismantled. In July the factory building will be ready for use. (Tr. by Chen Yu)

THE SECOND EXPRESSWAY BETWEEN BEIJING AND TIANJIN OPEN TO TRAFFIC
As the second expressway linking Beijing and Tianjin, the main lane of the Beijing-Tianjin Expressway (Tianjin Section) was officially open to traffic recently. With its completion, the expressway will alleviate the traffic congestion on the Beijing-Tianjin-Tanggu Expressway and facilitate the transportation from the TBNA to Beijing and other districts and counties of Tianjin. Besides, the rout location and direction of third expressway between Beijing and Tianjin has been fixed.

The Beijing-Tianjin Expressway (Tianjin Section) project contains the main lane and linking-up roads. The expressway starts from Beitang Town of the Tanggu District, the TBNA, goes through such districts and counties as Tanggu, Dongli, Beichen, Ninghe, Wuqing, etc. and ends in Gaocun Village of the Wuqing District (on the border of Beijing and Tianjin). With the 101.8 km main lane and 49.426 km linking-up roads,the Beijing-Tianjin Expressway is the largest high-grade highway project in Tianjin.

The Beijing-Tianjin Expressway in the north almost parallels the Beijing-Tianjin-Tanggu Expressway in the south. For the more efficient and convenient use of the new expressway, four special linking-up roads are built to connect the expressway with the Beijing-Shanghai Expressway, the Beijing-Tianjin Highway, the Tianjin-Hangu Highway, and TEDA (and Dongjiang Free Trade Port Zone). After the Beitang Station in the TBNA, the expressway will be divided into two, of which one is the eastern extension line leading to the Central Avenue and Dongjiang Free Trade Port Zone, and another is the directional ramp leading to Beitang Town.

It is learnt that the third expressway between Beijing and Tianjin will be built. Also with eight lanes, it will start from Daxing County. At present, the rout location and direction of the third expressway has been fixed. (Tr. by Chen Yu)

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