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The titanium alloy coiled tubing and industrial production base project, invested by Guangdong Guoyin Titanium Energy Technology Co, started construction on October 10 in Jieyuan Village, Minzhong District, Torch Development Zone.

Guoyin Titanium Energy is a wholly-owned subsidiary founded by Guangdong ForeWeld Welding Co in Zhongshan's Torch Development Zone earlier this year on July 28, and it serves as the main investor of the production base with customized new-type factory buildings.

Covering a total area of 41 mu, this is the first ultra-long titanium alloy coiled tubing production and manufacturing project in China. An investment of 500 million yuan, including a fixed-asset investment of 340 million yuan, will be spent on the construction, and the project is expected to generate an annual output value of 830 million yuan and a tax revenue of 110 million yuan at full capacity.

Founded in 2009, ForeWeld Welding is a technology-based enterprise that engages in the research and development, production and sales of high-end welding automation equipment and welding materials.