On September 16, a signing ceremony between Jinshan Industrial Zone and United Advanced Industrial & Technology INC. was held in Jinshan District.

Pursuant to the project agreement, United Advanced Industrial & Technology Inc. will invest USD 50 million in Jinshan Industrial Zone to produce biological diesel oil; production capacity will reach 50,000 tons by 2006.The company plans to import advanced technical equipment from Europe.By using abundant domestic low-grade rapeseed oil and animal/plant recycled oil resources as well as introducing advanced biological diesel oil manufacturing technology & equipment into Jinshan district, the project aims to achieve industrialized production of biological diesel oil.

The company will invest USD 29.8million in the first phase to enable production of 50,000 tons of biological diesel oil per year.  Within 3 to 4 years, United Advanced Industrial & Technology Inc. will invest USD20.2million in the second phase to expand the production capacity of biological diesel oil to 100,000 tons per year, forming an advanced biological diesel oil industrialization base.

Laurence Chen, director of the United Advanced Industrial & Technology Inc.and Board Chairman of Tian Rende (Shanghai) Environment-Friendly Energy Co.,Ltd. and Zhang Shijie, Board Chairman of Jinshan industry zone participated in the project signing ceremony.  Li Huagui, deputy chief executive of Jinshan district also attended the ceremony.