BEIJING — The Ontario government has announced agreements with Chinese partners valued at almost $600 million including one project that will see a $225-million production facility built in Kingston.
Ontario Premier Kathleen Wynne announced the deals in Beijing during her recent tour of China in November.
The agreements are expected to create 583 jobs in Ontario, a media statement indicated.
The announcement said Wynne was set to meet with Feihe International to discuss the company’s plans to build their first infant milk formula production facility outside of China.
The over $225-million investment will create around 277 jobs in Kingston the statement said.
Ontario will support the project with a $24.1-million investment through the Jobs and Prosperity Fund.
In another partnership, Ontario’s OTT Financial Group and Tencent Cloud are working together to build a Business Accelerator Centre in Toronto that will provide start-up businesses with funding, technology and administrative support.
They are also working together to develop Tencent Cloud markets in Canada. Together, the projects are valued at $15 million.
It was also announced Western University has signed an agreement with the China Automotive Battery Research Institute (CABRI), valued at $3.35 million, to establish a joint laboratory to develop solid-state batteries for electric vehicles.
They also announced that CABRI has registered a new Canadian-based R&D company.
McMaster University has announced it is planning to launch a start-up company to manufacture advanced battery cell testers for electric vehicles in Ontario.
This announcement follows a partnership agreement signed between the Beijing Institute of Technology and McMaster during the premier’s first mission to China in 2014, which resulted in the development of an advanced battery cell tester for electric vehicles.
The premier also met with Wan Gang, China’s minister of science and technology, to reaffirm a memorandum of understanding on research and innovation that was originally signed in 2008, the statement reported.
The agreement has generated over $30 million in joint funding for collaborative industry and academic research projects.
In 2016, two-way trade in science and technology between Ontario and China totalled nearly $18 billion, 42 per cent of the regions’ total two-way trade, noted the provincial statement.
Recent Comments
comments for this post are closed