(September 5) - Jiangling Motors Group has held an opening ceremony for its new projects in Nanchang's Xiao Lan Economic Development Zone yesterday, Xinhua reported. The projects, 11 in total, have a combined value of 5 billion yuan ($786.9b). The projects look to be completed by 2014.

Jiangxi-based Jiangling's programs include a new research and development center, new factories and a new technology company. In all, there are five new production sites among the programs.

Jiangling's sales returns in 2010 exceeded 27 billion yuan ($4.25b), propelling the company to become Nanchang's largest enterprise.

The Nanchang Xiao Lan Development Zone is home to production sites for over 90 international companies, including Ford, Haier, Visteon and Shanghai Baosteel.

Source:gasgoo