(Yicai Global) June 13 -- Shares of Haili Wind Power Equipment Technology jumped after the Chinese wind turbine maker said it will invest CNY2 billion (USD297 million) to build a production and export base for offshore wind power equipment at the mouth of the Yangtze River.

Haili [SHA:301155] closed up 6.7 percent at CNY69.82 (USD10.40), after surging as much as 11.2 percent to CNY72.80 earlier today.

The new facility will make wine power, drilling, infrastructure and other parts for export, Jiangsu province-based Haili said yesterday, citing the agreement it signed with the Qidong city government. The plant’s planned location will give it excellent overseas transport links.

The facility, with 0.26 square kilometers of factory space and marine area, will fill a gap in Haili’s overseas business and fortify its high-end marine equipment business, enhancing the company’s overall competitiveness and profitability, it said.

Haili, which counts big electricity producers such as China Longyuan Power Group, Jiangsu New Energy Development, and China Three Gorges Renewables Group among its clients, will set up a project company to build and operate the new plant, it added.

Editor: Kim Taylor