The First-period Project (with the total investment of one billion yuan) of Yiyang Bearing Industrial Park has Started

The first-period project of Bearing Industrial Park located in Yiyang industrial agglomeration area has held the groundbreaking ceremony in the morning of January 6, and the total investment for these 13 bearing projects was one billion yuan.

The annual sales revenue could achieve four billion yuan with the tax of 0.15 billion yuan after the first-period project of this bearing industrial park has been fully completed. The second-period project will add another 20 bearing projects with the total investment of 1.5 billion yuan. It is estimated that about 50 enterprises had settled down in this bearing industrial park by the end of "Twefth-Five-Year-Plan", and then the annual sales revenue may achieve 10 billion yuan with the tax of one billion yuan.

According to the relevant reports, this bearing industrial park plans to invest about four billion yuan, and completed in three phases. It aimed to introduce about 50-60 well-known bearing enterprises & bearing supplying enterprises in China, and mainly produce a variety of extra-large¡¢large & medium-sized slewing bearings, wind power bearings, precision bearings, special bearings and other related products, such as, bearing rollers¡¢steel balls¡¢rings¡¢bearing moulds, etc., meanwhile the annual production capacity could reach five million sets.

Additionally, this industrial park will also establish Bearing Researching & Developing Center¡¢Bearing Products Testing & Services Center¡¢Applied Software Researching & Developing Center¡¢Bearing Trading Center and so on, which could provide supporting services for the bearing enterprises in this industrial agglomeration area, thus to realize the integration of designing¡¢development & sales, meanwhile to become an important development¡¢ production & export base for bearing industry in Luoyang.