Osram Opto Semiconductors, a wholly-owned subsidiary of German lighting manufacturer Osram, is set to invest an additional 1.5 billion yuan (€195 million) in its branch in Wuxi New District.

Founded in 2014, the company's Wuxi branch now has the capacity to manufacture 1 billion opto-semiconductor components annually. In 2016, the branch generated 3 billion yuan in revenue.

In light of the rapid growth of its business in Wuxi, Osram has decided to further expand its presence in the city.

The additional revenue is expected to help Osram increase its annual revenues by €210 million, and will also create more than 2,000 job opportunities in Wuxi, the company estimates.

Construction on a new production facility in Wuxi began on August 8. Wei Duo, Party chief of Wuxi New District Government, attended the ground-breaking ceremony.

The ground-breaking ceremony for Osram's new production facility is held in Wuxi New District on August 8. [Photo provided to chinadaily.com.cn]

A government delegation headed by Wei Duo, Party chief of Wuxi New District Government, celebrate the start of construction on Osram's new production facility at the ground-breaking ceremony on August 8. [Photo provided to chinadaily.com.cn]