Foxconn Opto-Mechanical Tungsten Steel Project Settled in Jincheng

Foxconn opto-mechanical's high-end tungsten steel project successfully settled in Jincheng Park. Jincheng Industrial Fund and other companies jointly completed the first phase of the project to invest 80 million yuan to promote the city's cooperation with the group to cultivate the optical mechanical and electrical industry, create a smart manufacturing brand and the "World Optics Valley" in Shanxi province, as well as promote high-quality transformation.

High-end tungsten steel material is a basic material project for Foxconn to expand its new field of intelligent manufacturing by combining its own material tool advantages. It is also a core element of the company's transition from precision manufacturing to intelligent manufacturing. The products of this project can be used in coal mining equipment and mining enterprises, and are widely used in cutting, mining and other production links, and are widely used in high-end equipment fields such as precision machine tools, and promote the city to build Shanxi's intelligent manufacturing brand to form industrialization practices.

tungsten steel image

Last March, the municipal government, Foxconn Technology Group, Taihang Fund, and Jincheng Industry Fund jointly signed an optical-electrical-mechanical cooperation agreement. Industry funds closely tracked with market-oriented thinking and efficient docking, effectively promoted the establishment of high-end tungsten steel materials projects in the Park.

Since last year, the city has introduced a "1 + N" policy system. Shanxi University and the government of the city in Shanxi province signed a strategic cooperation agreement to jointly establish an Optoelectronic Information Industry Research Institute in the metropolis. The institute focus on bottlenecks that are restricting the development of Jincheng’s optoelectronic information industry. And prepared for the establishment of a "5 billion + 1 billion" optical mechanical and electrical industry fund, and partnered with Foxconn to build a "two centers and a base". During the period, the industrial fund guided the flow of social funds to the high-end of the industrial chain through government fund input and provided strong financial support for the cultivation of the optical mechanical and electrical industry.

the Jincheng Industrial Park image

At present, the Industrial Fund has completed the investment of more than 44 million in Lanyuan Logistics Park, Fuji New Materials and Foxconn Optoelectronics' high-end tungsten steel materials projects. The joint investment has driven and leveraged bank funds of 220 million yuan. At the same time, it is conducting an industrial sub-fund around the five major industrial systems in Jincheng layout, vigorously attract external high-quality funds and social capital, improve the efficiency of local capital operations and the construction of advantageous industrial clusters from the capital supply side.

 

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