Xi'an Economic and Technological Development Zone and Shaanxi Nonferrous Metals Holding Group Co signed a cooperation agreement on July 29, marking the settlement of the company's magnesium alloy and deep processing project (Phase I) in the zone.

The project will help fill the zone's gap in the magnesium-based new materials industry and boost the upgrading of advanced manufacturing toward high-end development.

The project plans to construct four major production units, covering melting and casting, extrusion, and forging, along with supporting office and auxiliary facilities. Through mutual empowerment of innovation and industrial chains, it will greatly expand application scenarios and market space.

As the core hub of the city's industrial economy, the economic zone boasts prominent geographical advantages, high industrial agglomeration, and complete upstream and downstream supporting facilities, delivering a sound industrial ecosystem for the project's construction and long-term growth.

The company will accelerate the development of a first-class domestic R&D and production base for magnesium-based new materials, injecting strong momentum for the enterprise to secure a leading position in the industry and drive high-quality regional development.