# Qingdao Wanjianwan Tools starts second-phase project

Qingdao Wanjianwan Tools started construction of its second-phase project in Qingdao West Coast New Area, with a total investment of USD 28 million. The project will produce high-speed precision cutting tools.

- Type: Expansion
- Announced: 2020-04-22
- Where: Qingdao West Coast New Area, Shandong, China
- Value: $28.0M
- Jobs: 1,200
- Status: under construction
- Products: high-speed precision cutting tools
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md)

## Companies

- [Qingdao Wanjianwan Tools](https://endata.com/companies/46769.md)
- [YG Group](https://endata.com/companies/46770.md) (investor)

## Sources

- [cctar.cn](https://www.cctar.cn/news/1806.html), 2020-04-24: "青岛万基万工具二期项目开工，总投资2800万美元，由韩国YG集团和青岛万基万工具有限公司投资建设。"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.