Amer International Group will build a new material industrial park in Tai'an, East China's Shandong province.

The first phase of the project has been put into production and the launching ceremony of the second phase of the project was held on April 18.

The new material industrial park is located in Tai'an High-tech Zone. The project was invested in by Amer International Group, one of the world's top 500 enterprises, the Tai'an municipal government, and the Tai'an High-tech Zone administrative committee. The project has attracted an investment of 11 billion yuan ($1.69 billion), and is expected to have an annual output value of more than 30 billion yuan. It will create more than 4,000 jobs in total.

Amer will make great efforts to optimize copper resource allocation, strengthen the copper related industry, and build an industrial chain for flat panel display material to meet the market demands of the Bohai Economic Rim area, said Wang Wenyin, chairman of Amer International Group.

"With the support of the Tai'an government and financial institutions, Amer will help Tai'an build an industrial cluster worth hundreds of billions yuan," Wang added.

Cui Honggang, Party chief of Tai'an, expressed congratulations to the project on behalf of the Tai'an government. This project will help increase employment rate and fiscal revenue, he said. He also expressed his hopes that the project will improve the sci-tech innovation capability in Tai'an and promote the city's high-quality development.

Cui urged governments at all levels to optimize the business environment, as well as make more favorable policies to serve the project and to accelerate the building of the industrial park.