A new material industrial park by the Vital Technology Group is set to play key role in Kunming’s development in new material technology.

Covering approximately 286,666 square meters of Kunming’s Dianzhong New Area, its overall topping-out of the main structure was recently completed.

With a total investment of over 10 billion yuan($1.39 billion), the industrial park marks a key project to attract investment and players along the industrial chain to settle in Kunming.

It is expected to become a 50 billion yuan scale industrial park and drive the development of high-tech industries, including intelligent manufacturing, smart cities, and green industries, in Kunming and across Yunnan province.

Once reaching full production, the annual output value of rare metal materials and downstream products is expected to be about 8 billion yuan.

Established in 1995, Vital Technology Group is a high-tech enterprise focusing on rare metal materials technology. Hou Zhenfu, head of the group, stated that Yunnan is the "Kingdom of Nonferrous Metals." With the project, the Vital Technology Group aims to promote the integrated development of industrial chains, and the Kunming base will help solidify its leading position in the field of rare metal materials technology.

In return, the project will also facilitate Kunming to become a global rare metal materials technology innovation center and attract customers along the entire industry chain to settle in Kunming.