On November 12, 2010, Xinxing Heavy Industry Co., Ltd. and the Xiangfan City Government 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 12th Five-Year Plan period, it will strive to build the strongest and largest light (heavy) metal resource (light alloy auto parts) production service base in China; the strongest and largest emerging energy equipment R&D 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.
Since the 1990s, Xiangfan has become a pilot city for military transfer to civilians. Under the strong support of the Xinxing Ductile Iron & Steel Group, the rapid development of automobiles, equipment manufacturing and emerging industries has effectively promoted the adjustment of local economic structure and the optimization and upgrading of industries. To build an important growth stage in the city's multi-point support development pattern, the Xinxing Cast Pipe Group is a strong backing that boosts Xiangfan's leapfrogging development.
The newly-established heavy industry set up an emerging heavy industrial park in Xiangfan Aerospace Industrial Park and Zaoyang City to invest in the construction of light alloy auto parts manufacturing projects, military special fuel equipment and emergency rescue equipment projects, vanadium batteries and deep processing projects, and titanium ore mining. And deep processing projects will surely provide strong support for bigger and stronger autos, equipment manufacturing and emerging industries, add new impetus, and the two sides will strive to achieve new and greater results.
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