The Sino-South Korean High-end Equipment Industrial Park is currently under construction in Jining, East China's Shandong province. [Photo/jnnews.tv]

The Sino-South Korean High-end Equipment Industrial Park is located in the Jining National High-tech Industrial Development Zone in Jining, East China's Shandong province. It is expected to increase the development zone's appeal to businesses after its completion.

With 800 million yuan ($123.53 million) in investment, the industrial park is one of Shandong's major projects in 2021. It covers a floor area of 110,000 square meters, with a number of workshops to manufacture forging equipment, automatic combination lathe, continuous heat treating equipment, and support equipment.

The project is expected to generate 3 billion yuan in annual output, producing 20 precision hot forging assembly lines, 30 precision multi-station assembly lines, and 80 automated heat treatment assembly lines, local media outlets reported.

The construction of the industrial park is expected to be completed by February 2022, according to Yang Hua, director of the project, adding that the industrial park will offer nearly 1,000 jobs.