Representatives unveil the ball bearings manufacturing base and research center of SKF, a Swedish bearings production giant, in Xinchang county, Shaoxing, Zhejiang province on April 18. [Photo/zjol.com.cn]

Sweden's SKF Group, one of the largest bearing manufacturers in the world, opened its largest ball bearings manufacturing base and research center in Xinchang county, Shaoxing, Zhejiang province on April 18.

The manufacturing base is the largest one invested in by SKF in the world, and also the largest foreign-funded project in Xinchang in recent years.

The project is expected to cover an area of 130,000 square meters, with an investment of 770 million Swedish krona ($91 million).

The first-phase construction project started in July 2018 and the first assembly line began operations in January 2020.

SKF representatives said that it hopes to develop the Xinchang manufacturing base into a world-class one that forms a comprehensive industrial chain of bearings in China.

Officials in Xinchang said that the project will further enhance the county's strength in the bearings industry and accelerate the growth of its manufacturing industry.