Authorities in Shantou, Guangdong province, launched the construction of a major technology institute on Wednesday, aiming to develop engineers and technicians to facilitate local economic development in the near future.

The Guangdong Technion - Israel Institute of Technology, a project jointly developed by Shantou University and the Israel Institute of Technology, is scheduled to begin recruiting students next year, after its first phase of construction is completed, according to local authorities.

"The institute, in cooperation with the Israel side, will help upgrade the Guangdong's industries by developing engineers and technicians in the near future," said Zhu Xiaodan, governor of Guangdong.

The institute is also supported by the Li Ka-shing Foundation, which has already donated $130 million to the Israel Institute of Technology.

According to local authorities, the institute will develop 10 technology majors, with more than 5,000 students to be recruited.