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The Jiangxi New Territories Phase II Project was completed by Jiangxi New Territories Machinery & Electrical Co., Ltd. The planned investment in this project is approximately 50 million yuan. The project started construction in January 2011 and was completed and put into operation in September 2011. After the completion of the project, a new production capacity of approximately 10,000 tons will be added, which will effectively alleviate the supply of pump castings in the New Territories pump industry.
On January 18, the New Territories Pump Industry Co., Ltd. signed an agreement with the Taihe County People's Government. New Territories Pumps plans to invest in its subsidiary, Jiangxi Xinjie Electromechanical Co., Ltd. “The second phase of a 30,000-ton technical transformation project for pump castings processingâ€. The New Territories Pumps Co., Ltd. uses cash to invest and intends to increase the original Jiangxi New Territories capital increase. The source of funds for this project is the company’s over-raised funds.