Guangzhou: ABB Group has signed an agreement with Xiamen Torch Hi-tech Industrial Development Zone to jointly develop an ABB industrial center in Xiamen’s Xiang’an District.
According to the agreement, ABB Group will invest RMB2bn in the project over the next five years.
Construction will start in July this year, with the project to be built in two phases and in operation by 2019. ABB Group plans to gradually move its seven subsidiary companies and one branch company to the centre.
A senior official of ABB said the project is the company’s largest investment project, and it will play a key role in the company’s future development in China and begin a new chapter for the company. [01/04/14]