Chinese firms investing big in UAE
The China-UAE Industrial Park in the United Arab Emirates, the first capacity cooperation park involved in the Belt and Road Initiative, will complete construction of its main building in June, and it has attracted the investment of nearly 20 Chinese enterprises.
With a total investment of nearly 7 billion yuan ($1.03 billion), the first batch of Chinese enterprises, including companies from sectors such as building materials, chemistry and new energy, have started constructing their plants in the industrial park, which is 60 kilometers from Abu Dhabi.
On Thursday, Jiangsu province-based New Chunxing Resource Recycling Group, China's largest comprehensive utilization enterprise of waste lead-acid batteries, signed an agreement in Beijing with the industrial park. It will invest 200 million yuan and establish a waste lead-acid battery processing and recycling plant in the park.
