Suzhou Newway Valve broke ground on the second phase of its high-end industrial valve project in Suzhou High-tech Zone. The phase has a total investment of CNY 500 million and is planned to produce over 56,000 valves a year.
Suzhou Newway Valve announced plans for its subsidiary Newway Fluid Control to build a second-phase expansion with a plant of about 20,000 square meters and at least two new industrial valve production lines, with investment of at least CNY 500 million, subject to shareholder approval.
Offshore Oil Engineering (Haiyou Gongcheng) awarded Suzhou Newway Valve a contract worth CNY 5,361,897 to supply low-temperature ball valves for the Tianjin LNG phase II receiving terminal, per the tender result published 10 December 2020.
Suzhou Newway Valve began building a high-performance smart valve factory in Suzhou High-tech Zone. Phase one has a total investment of CNY 350 million, 50 mu of land and planned total capacity of CNY 1 billion, expected to be completed in May 2021.