Xiangtan Shitong Electric Co., Ltd. and Unitron Electronics Group inked an agreement on February 24 to establish Hunan's first Sino-Dutch joint venture, Xiangtan Shiyou Electric Co., Ltd, in Changsha National High-tech Industrial Development Zone.
The agreement is based on both sides' attempt of building an international advanced R& D and production base for electrical control systems of wind turbine generators.
With an initial investment of 100 million yuan, the new firm is expected to realize an output value of 450 million yuan within 3 years.
Mayor of Terneuzen Jan Lonink, General Director of Zeeland's port authority Zeeland Seaports Hans van der Hart, Mayor of Xiangtan Shi Yaobin, Vice President of Hunan University Cao Yijia, Deputy Director of the State Taxation Bureau of Hunan Province Wu Guanghui, Deputy Mayor of Xiangtan Zhou Fangliang, Director of the Management Committee of Changsha National High-tech Industrial Development Zone Liu Shuoke, and Board Chairman of Xiangtan Electric Manufacturing Group Zhou Jianxiong attended the signing ceremony.
Mayor Shi remarked that Xiangtan City boasts a solid foundation, a notable advantage and a promising prospect in its wind power industry.
He also said that the current cooperation is more than just the settling of a new project. It is also a brand new start for Xiangtan's cooperation with Zeeland Province, and Netherlands at large, in sectors like technology, products and capitals.