A foundation laying ceremony was recently held for another key investment project, the Bosch-Siemens Home Appliances Park, in Nanjing Economic and Technological Development Zone in East China's Jiangsu Province.
Covering 370,000 sq m, the park will consist of two kitchen appliance and small home appliance manufacturing factories, an R&D center, an international procurement center, and a national logistics center. Total investment is expected to reach U.S. $99 million.
The park is expected to start operating in the latter half of this year. It is also reportedly going to be the production base of kitchen appliances and such small home appliances as dust-arresters and electric flat iron for the corporation, BSH Bosch und Siemens Hausgerate.
Based in Munich, BSH is a joint venture of Bosch and Siemens, which has 42 production bases and 70 subsidiaries worldwide, with annual sales reaching 6.3 billion euro (approx. $8.48 billion). (XIC)
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