The Bangtuo pelletizing production line project in Dongjiakou Economic Zone of Qingdao West Coast New Area (Qingdao WCNA) is set to be launched.

The project consists of a production line that manufactures 4 million metric tons of roasted and oxidized pellets. Together with the ore dressing process equipment, which began production in June, it functions as an integrated production system.

Thanks to the deep-water port and supporting industrial chain in the new area, the project is expected to achieve an annual industrial output value of 5 billion yuan ($687.9 million) once it becomes operational.

However, the investment company behind the project, Qingdao Bangtuo New Materials Technology Co Ltd, initially chose another city for construction before selecting Qingdao WCNA, and over 4 million yuan has already been invested.

"Our executives learned about the Dongjiakou Economic Zone during a visit to Qingdao. After research, they found that the development foundation, scale and development environment of the high-end chemical industry in the new area, and Qingdao as a whole, are more suitable to the company's long-term development. Therefore, we decided to relocate the project to Dongjiakou," said Wan Deshi, a director of Qingdao Bangtuo New Materials Technology Co Ltd.

"Dongjiakou Economic Zone not only has unique natural resources but also favorable business services. We firmly believe that moving our project to Dongjiakou is the right choice!" Wan added.

With the support and guidance of the Dongjiakou Economic Zone's management committee, the construction of the Bangtuo pelletizing project has made significant progress. This project, covering an area of 400 acres (26.7 hectares), was completed in less than 21 months.