Phase 1 of the Torch New Materials Innovation Park was topped out on June 12. Funded by Torch Environmental, a company in the National Health Technology Park, it is the first project to obtain a land certificate under the "Three-old Renovation" campaign in Torch Development Zone.

Torch New Materials Innovation Park will be constructed in two phases, covering a land area of 50 mu. With 110,000-square-meter high-standard modern plant buildings, the project is expected to generate an output value of 1.2 billion yuan and tax revenues of 40 million yuan per year.

Phase 1 of the project covers an area of 12 mu, with a total investment of 60 million yuan. It includes a 9-story standard industrial plant with a floor area of 21,000 square meters. Phase 1 is expected to generate an annual output value of 220 million yuan and annual tax revenues of 6 million yuan.

Upon completion, the project will focus on projects in such healthcare-related fields as new energy, high-end electronics, biomedical raw materials, medical devices and emerging materials in addition to green resource regeneration projects.