Chinese division of German companyl ThyssenKrupp has announced additional investment of €75m to construct an automotive electronic power steering facility in the Changzhou National Hi-Tech District, China.
The company is also planning to invest €30.33m in its CND-based engine facility following enhanced performance of the plant.
The facility scheduled to be built in the second phase of the project will involve production of assembled camshaft cylinder head modules.
Changzhou National Hi-Tech District CND is one of the biggest economic growth points in Changzhou, which is home to nearly 200 companies engaged in different aspect of the automotive sector.
CND Bureau of Commerce Zhou Lijun said: "To attract more foreign investment, we should not only make foreign investors feel at home, but also demonstrate our ability to provide them with effective, professional and international services.
"Before entering into negotiation concerning foreign investments at CND, we analyze their actual requirements and collect information that matters most to the investors."
The new facility is expected to go into production in 2016.
