US car maker General Motors has announced the start of the construction of its Chinese industrial park in Shanghai.
The park, located at Jinqiao Export Processing Zone of the Pudong New Area, covers a land area of 120,00 square meters and will be completed in two phases with a total investment of $250 million.
The first phase of the project, including buildings and facilities for the car giant’s Asia-Pacific headquarters, Chinese headquarters and other local operational institutions, is expected to be completed in October 2009.
The second phase will house one of its scientific research centers.
The park will accommodate 2,500 employees including 300 researchers.
Source: Trading Markets