Optics Valley of China in Wuhan, Hubei province signs eight projects worth $5.52 billion with alumni from China University of Geosciences at a homecoming event on Nov 18. [Photo provided to China Daily]

East Lake High-tech Development Zone (Optics Valley of China) in Wuhan, Hubei province signed eight projects worth 36.6 billion yuan ($5.52 billion) with alumni from the city’s China University of Geosciences (CUG) at a homecoming event on Nov 18.

The event was jointly hosted by Wuhan municipal government and CUG, attracting former students at the university to invest 166.87 billion yuan in Wuhan.

The investment in Optics Valley of China covers areas including new energy, medicine and health, internet of things, and education.

The Wuhan Industrial Technology Research Institute of Geo-Resource and Environment plans to invest 20 billion yuan in the zone to establish a hydrogen energy industrial fund and build an industrial base for hydrogen energy.

Shanghai Tianyi Group will invest 10 billion yuan in Optics Valley of China to build a national-level life health sample information base, an innovation center, a life health town and an international high-end treatment center.

Humanwell Healthcare, a leading healthcare solutions provider with headquarters in the zone, will invest 2.99 billion yuan, of which 1.99 billion yuan will be used in an advanced formulation project, and 1 billion yuan in a narcotic analgesic drug laboratory project.

Shenzhen Tianrunda Science and Technology Development Company plans to invest 2 billion yuan in the zone to establish a research and development, manufacturing and marketing center for computer monitors, LCD televisions (liquid crystal display) and intelligent display terminals.

In addition, CUG will cooperate with Jordan to build a “China-Jordan University” in the zone with investment of 1.5 billion yuan. Wuhan Juzheng Environmental Science and Technology will invest 100 million yuan in the zone to build a research, development and industrialization base for MEMS (Micro-electro Mechanical System) gas sensors. Guangdong Recyclean Low-carbon Technology will also invest 5 million yuan to build a development and operations center for organic resources and new energy.