Five governments and enterprises jointly signed the 3D high-end new material project investment cooperation agreement, valued at 600 million yuan ($82.62 million), on March 18.

The cooperation parties are Juungar Banner People's Government, Juungar Economic Development Zone, Suzhou AmPro Innovations Co, Ordos Innovation Investment Group, and Inner Mongolia Hengdong Energy Group.

The signing ceremony. [Photo/WeChat account of Nuan news]

The project will be carried out in two phases. The first phase will receive an investment of 300 million yuan, with 20 sets of metal powder-making equipment to be put in place, producing about 2,000 metric tons of 3D printing metal materials annually and contributing approximately 65 million yuan in tax revenue annually. The second phase will also receive an investment of 300 million yuan, with plans to produce 3,000 tons of ultrafine copper powder and nano-nickel powder materials annually, and is expected to contribute about 130 million yuan in tax revenue annually.

This signing ceremony marks Juungar Banner's first use of the transformation and development fund pool to assist energy enterprises in transitioning to new industries and is a milestone in the government's efforts to facilitate collaboration between entrepreneurs and scientists.