Taipei, August 11, 2008 (CENS)--Taiwan Machine Tool & Accessory Builders` Association recently signed an agreement with the People`s Government of Fuching City of Fujian Province, China to set up a Taiwan machine tool industrial Park.

With the project going as planned, the industrial park will be generate RMB50 billion in annual production value.

According to Fuzhou Evening News, Taiwan Machine Tool & Accessory Builders` Association recently took a fact-finding tour to Fuching City and signed an investment framework agreement with the People`s Government of Fuching City for setting up a Taiwan machine tool industrial park in that city, with the parties in the tour group including Edward Yang, chairman of Taiwan Machine Tool & Accessory Builders` Association; C.C. Chen, president of She Hong Industrial Co.; and Lo Tien, president of Tung Ling Energy Technology Inc.

The city government has promised to reserve land backed by infrastructural construction to help build the proposed industrial park. In addition, the city government will also streamline the paperwork to help the association obtain the construction permit.

Taiwan is the world`s fourth-largest manufacturing nation of machine tools. The Taiwan Machine Tool & Accessory Builders` Association has 500-plus members specializing in the development and production of machine tools and relevant accessories.

Tung Ling president Lo Tien said the proposed machine tool industrial park in Fuching City will be completed as soon as possible. "We will tap the strength of Taiwan`s machine-tool manufacturers to establish the industrial park, which will be developed as the most influential machine tool manufacturing base globally," said Lo.

The proposed industrial park will be mainly used to produce advanced machine tools and relevant precision parts and components, with the park expected to upgrade the manufacturing level in Fujian province and even China`s southeastern coastal region.

(by Ben Shen)