NANJING, Feb. 9 (Xinhua) -- A Japanese electronic parts producer has signed a new agreement with the government of Wuxi in east China's Jiangsu Province to invest 1.1 billion U.S. dollars in an industrial park.
Murata Manufacturing Co., Ltd. and the city government signed the agreement on Thursday. Murata will increase its investment in the park from 1.5 billion U.S. dollars to 2.6 billion U.S. dollars to build a new components factory and lithium battery factory.
The components factory, capable of producing 40 billion multi-layer ceramic capacitors each year, will be completed and in operation by the end of 2020. Every smart phone contains around 800 ceramic capacitors.
The other new plant will have an annual output of 132 million lithium batteries and begin production in the first quarter of 2019.
Murata started business in Wuxi, which is now the company's largest overseas production base, in 1994.
"Wuxi relies on the development of industries. The city is now focusing on intelligent manufacturing and high-tech industries. Murata's project is in line with our development plans," said Gao Yaguang, deputy major of Wuxi.
