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Project developer: Jiangling Motors Corporation Group
◆ Project description: Introduced by JMC from Italian VM Company in June 2005, VM engine project aims to produce VM diesel engines made with internationally advanced technology. It is a second engine project following the production of 4JB1 engines by JMC.
◆ Product performance: Made with quite a few internationally advanced technologies, VM engines features low noise, low exhaust emission, low fuel consumption, and high comfort. Its exhaust emission meets European III and IV standards and can be used in many kinds of commercial vehicles. VM engines are made for JMC complete vehicle enterprises and auto enterprises in other parts of China. They can be used in SUV, MPV, commercial vehicles, light and medium buses. A supply contract was signed with Hunan Changfeng Motors Co., Ltd. in October 2005.
◆ Project progressing: The principle part of the project has been completed, and water quality testing, environment evaluation, and plant design have all been done. By June 2006 the production equipment will be put into pilot run,
◆ Investment scale: The total investment is RMB 1.2 billion Yuan, and the site of the project is in Jiangxi Xiaolan Economic and Technological Development Zone, Jiangxi. According to the overall planning of the project, 120 thousand VM engines will be produced a year. The construction of the project is divided into two stages. For the first stage, the investment is RMB 698 million Yuan, and construction period is 2 years. When the first-stage project is finished, 60 thousand complete vehicles will be able to be produced a year and 120 thousand by 2012. JMC has RMB 200 million Yuan in place for the project, and payback period of investment is 5.11 years.
◆ Investment mode: Both a joint venture and cooperation is fine. The total investment is about RMB 400 million Yuan by 3 to 5 investors, among which JMC holds a dominant 34% and the other hold 66% jointly.
◆ Enterprise profile: Jiangling Motors Corporation Group is one of China’s backbone auto enterprises and Jiangxi’s biggest auto enterprise. Its light truck sales ranked 20th, total assets reached RMB 8.2 billion Yuan, and net worth RMB 3.5 billion Yuan in 2003. It has the technology and equipment available for producing engine assembly, gearbox, car body, chassis, front axle, rear axle, and 130 thousand complete vehicles a year. The established strategic partnership between JMC and Changan will make JMC stronger based on the asset restructuring. By 2010 JMC will be able to produce and sell 300 thousand complete vehicles, of which 150 thousand are commercial vehicles and passenger vehicles.
Contact: Wu Gang
Address: Investment Invitation Office of Nanchang Auto
Address: and Auto Parts Industry Base
Tel: 0791-5230572 13133910222
Fax: 0791-5231723
Postcode: 330200
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