Zhejiang Transfar Co, a Hangzhou-based privately owned chemical firm, said it plans to invest RMB2 billion (US$292.62 million) to build a new biochemical product plant, the Shanghai Securities News reported. Located at the Xiaoshan Agricultural Hi-tech Park in Hangzhou, the Zhejiang Biological Engineering Base will cover more than 700,000 square metres and be committed to advanced services in biological, pharmaceutical, food, environmental protection and related equipment-making industries. More than 300 enterprises have shown an interest in having a presence in the park, the newspaper said.

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