NANJING, July 6 (Xinhua) -- Italian bottle cap maker Pelliconi has signed a deal with Changzhou national hi-tech district in east China's Jiangsu Province to set up a manufacturing base, the district's management committee said.
The Italian company with a history of over 80 years supplies around 30 billion bottle caps worldwide every year. It entered the Chinese market in 2016.
With an investment of 13 million U.S. dollars, the new project will manufacture low-carbon packaging items with the help of automated production lines and advanced technology.
The new project is expected to have an annual output of more than 100 million yuan (about 15.5 million U.S. dollars) within three years of operation.
"With advantage in transportation, industrial facilities and business environment, Changzhou national hi-tech district has become one of the most attractive investment destinations for Italian firms," said Li Hao, deputy director of the district's management committee, adding that so far 14 Italian companies have settled in the district.
"We believe the new project will inject fresh vitality into the high-quality development of local industries," Li said. Enditem