Deals on nine major industrial projects worth hundreds of millions of US dollars were signed yesterday in Shanghai’s Jinshan District.
Alibaba plans to set up a line-up of 100,000 servers as part of its intelligent manufacturing project fueled by cloud computing. The Chinese tech giant will also build a reliability lab to test cutting-edge products.
The new projects are estimated to generate output worth 5 billion yuan (US$750 million).
It is expected to meet Alibaba’s cloud division Aliyun’s large computing needs and provide server support to data centers across the country.
BASF Care Chemicals (Shanghai) Co, a local joint venture of the German chemical giant BASF, will invest 280 million yuan in a high-end skincare and cosmetics project. Upon completion, it is estimated to create an annual output of 525 million yuan.
Shanghai Yuyuan Tourist Mart (Group) Co signed an agreement to invest 415 million yuan in a healthy living demonstration zone.