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Recently, Inner Mongolia First Machinery Group, Baosteel Group Xinjiang Bayi Iron and Steel Co., Ltd. and Yili Xinghe Commerce and Trade Co., Ltd. signed a agreement on Xinjiang Capital Co., Ltd. Tianshan Automobile Manufacturing Co., Ltd. to increase capital (expanding shares) joint venture and cooperation project: Plan to develop economic technology in Urumqi within 5 years The X development zone will build a Xinjiang automobile leading enterprise that can produce 7000 special vehicles annually.
It is reported that the total investment of the cooperation project is 500 million yuan. It is expected that the first phase of the project will be completed in 2008 with a total investment of 200 million yuan and an annual output value of over 700 million yuan; the second phase of the project will be implemented in 2009, with an investment of 300 million yuan, and an annual output value of 1.2 billion yuan or more; After the completion of the project in 2010, the investment will increase to 500 million yuan, and the annual output value will reach more than 1.8 billion yuan.
Once the special automobile plant is completed and put into production, it is hoped that it will enter the Central Asian countries with its geographical advantage. At present, the demand for special vehicles in Central Asian countries such as Kazakhstan has increased year by year, and Xinjiang has bordered on Central Asia. Therefore, this is also the main reason why the three parties jointly build Xinjiang Tianshan Automobile Manufacturing Co., Ltd.