A view of the Zhoushan green petrochemical base, one of the largest of its kind in the world. [Photo/zhoushan.cn]

A signing ceremony for six projects worth more than 1 billion yuan ($157 million) was recently held in Daishan Economic Development Zone, Zhoushan, East China's Zhejiang province, local media reported on March 14.

Located in Daishan Green Petrochemical Equipment Maintenance Technology Industrial Park, these projects are invested by petrochemical equipment maintenance companies from Shandong and Guangdong provinces and Ningbo city, according to Wang Jiao from the administration committee of the development zone.

The Daishan Economic Development Zone is located near to the Zhoushan green petrochemical base, which is faced with increasing demands for petrochemical equipment maintenance, said Wang.

She added that Daishan is also surrounded by large and medium-scaled chemical companies in great demand of maintenance and troubleshooting services for petrochemical equipment.

The Daishan Green Petrochemical Equipment Maintenance Technology Industrial Park is presently home to more than 10 petrochemical equipment maintenance companies.

Construction of the six new projects is expected to commence this year. The industrial park is expected to have an annual output value of 400 million yuan after it is completed.