China Huaneng Group signs a contract with Tai'an on June 25 in Jinan, Shandong province to jointly promote the development of Tai'an's emerging industries. [Photo/my0538.com]

Tai'an in Shandong province took a big step in further developing its emerging industries by reaching a 39.4 billion yuan ($5.71 billion) deal with China Huaneng Group on June 25.

The deal is about the construction of a comprehensive industrial park involving new energy, new material, and intelligent logistics, which consists of a new energy sci-tech industrial base and a logistics and elderly care-featured tourism industrial base.

The new energy base, located in Xintai county-level city, has an investment of 23 billion yuan. Plans are afoot to build a megawatt photovoltaic industrial park, an intelligent manufacturing project of optical wand and optical fiber, a science innovation industrial park, and a logistics and agro-ecological park.

Cui Honggang, Party secretary of Tai'an, meets with leaders of China Huaneng Group on June 25 in Jinan, Shandong province. [Photo/my0538.com]

The logistics and elderly care-featured tourism industrial base will be located in Daiyue district, with plans in place to develop an elderly-friendly tourism resort with a good ecological and cultural environment.

Construction will also take place at the Ningyang Economic Development Zone, which is planned as a modern intelligent logistics park combining coal operation, coal washing and processing, and bulk commodity trading.

The projects are of great significance to Shandong's regional development strategy of nurturing new economic driving forces and upgrading traditional ones, said Cui Honggang, Party secretary of Tai'an, who also expected Huaneng to launch more such projects in the city.