China to build “Shenzhen LED Industrial Park” in Russia
Shenzhen, China- The Business Council of Shanghai Cooperation Organization (SCO) announced on an energy saving conference held in Moscow that China will make an investment of 500 million dollars in Russia to build a “Shenzhen LED Industrial Park” which, after completed, will have a production value of up to RMB150 million yuan. The Industrial Park, initiated by a Shenzhen company, will be a representative project of Shenzhen’s Light Emitting Diode (LED) enterprises to expand market in Russia.
About ten LED manufacturers from Shenzhen are said to participate in the first phase project of the Park. After completed, the Industrial Park is expected to be a production base for LED serial products, orienting to Russia and other member countries of the SCO. With a total floor area of 50 to 100 hectares, the project will integrate workshops, research laboratories, accessory apartments and overall basic facilities in the Park. The corporations in the Park will cover LED packaging, outside and indoor lighting, LED display screens and other LED application fields.
The close economic and trade relations between Shenzhen and Russia is the foundation for Shenzhen LED corporations to go to Russia for market expansion. Russia is the eleventh largest trade partner and the tenth largest export market of Shenzhen, according to relevant statistics. In 2011, the foreign trade import and export value of Shenzhen and Russia is 2.91 billion dollars, with an annual increase of 12.3%, which indicates Russia will become a large demand market for LED lighting facilities in the future.
Shenzhen Post Elaine contributes to the story.
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