On August 5, 2013, the 2013 Special Funds and Project Plan Catalogue for the Development (Structural Adjustment) of Emerging Industries and Key Industries in Shandong Province was released. The high-strength powder metallurgy parts project of Rongcheng Hongcheng New Material Co., Ltd. and the high-performance offshore fishing vessel segment module manufacturing project of Yuantong Shipbuilding Co., Ltd. were selected for the industry development special fund plan, receiving a total of 2.4 million yuan in support funds.
Since the beginning of this year, the Rongcheng Economic and Information Technology Bureau has been focusing on the transformation and upgrading of traditional industries and the cultivation and development of strategic emerging industries. It has identified and selected key technological transformation projects from the fields of equipment manufacturing, new materials, and marine engineering equipment. Among them, the high-strength powder metallurgy parts project of Hongcheng New Material Co., Ltd., upon completion, will address the supply-demand imbalance of high-strength powder metallurgy automotive parts in China. The high-performance offshore fishing vessel segment module manufacturing project of Yuantong Shipbuilding adopts a segment module manufacturing model, which can reduce shipbuilding costs by 8% to 10%, shorten the construction period, facilitate maintenance and modification, greatly enhance the overall level of China's equipment manufacturing industry, and save 10% to 20% of energy. This significantly improves the energy efficiency level of shipbuilding and achieves the goal of energy conservation and emission reduction.
The two selected projects have a total investment of 330 million yuan. Once they reach full capacity, they are expected to generate an additional sales revenue of 660 million yuan and profit and tax of 118 million yuan. These projects will play a positive role in promoting and demonstrating the accelerated development of emerging industries and structural adjustment of key industries in Rongcheng City
