November 03, 2023

Umicore to establish R&D center in Waigaoqiao

The Umicore research center project was signed recently to settle in Waigaoqiao.

Geert Olbrechts, chief technology officer of Umicore, came all the way from Belgium to attend the signing ceremony and expressed his excitement: "As a global leader in recyclable materials technology, we will bring more innovation businesses to Waigaoqiao".

Umicore Metal International Trading (Shanghai) Co Ltd was founded in Waigaoqiao Free Trade Zone in 1996 by Umicore, one of the world's top 50 chemical enterprises. This global new energy group has decided to establish its first R&D center in China and the fourth R&D center in the world once again in Waigaoqiao.

The total investment of the Umicore R&D center is about 15 million euros (US$15.9 million) and the building area is about 3,600 square meters. The R&D center is expected to be put into operation in the first quarter of 2025. In the future, the center will serve as a platform for research and development and testing activities, allowing Umicore's business units to establish closer connections with Chinese customers and partners.

In the first three quarters of this year, 102 new foreign-funded enterprises were established in the bonded areas, in addition to 110 existing foreign-funded enterprises that increased their capital.

In the same period, the total import and export volume of the bonded areas reached 871.26 billion yuan (US$119.02 billion), accounting for 27.5 percent of the city's total and increasing by 10.0 percent year on year, which exceeded the city's growth rate by 7.3 percentage points.