On May 16th, four foreign-funded enterprises such as Wuhan Development Zone and Wescast Company of Canada held a signing ceremony for auto parts projects, with a total contract investment of 1.186 billion yuan. Wescast Company of Canada is the world's largest professional manufacturer of automotive engine exhaust pipes. The investment in the development zone project is 99 million U.S. dollars. It is planned to start production by the end of next year.
Mao Fu, president of Wescast Asia Pacific, Canada, said: “In the location of this project, we initially considered over 40 candidates in China. Our ideal candidate should have excellent educational conditions, convenient logistics conditions, and proximity to us. The customers, relatively developed related industries, and related preferential policies, through a relatively long period of investigation, we think that Wuhan Development Zone is the most appropriate choice, so we finally chose Wuhan.†Wuhan Development Zone due to Shenlong Automobile The construction has passed 15 spring and autumn today. At present, Wuhan Development Zone has gathered 24 Fortune 500 auto companies, and has 128 complete automobile and parts and components companies, a total investment of nearly 70 billion yuan, and more than 20 automotive and parts companies R&D centers, which have formed unique characteristics. It is an advanced manufacturing base based on automobiles and parts.
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