Jinan Intelligent Sensor Industrial Park, located in Licheng district, Jinan, officially opened and held an event to welcome the first companies settling in the park on Feb 25.

With a total investment of 3.9 billion yuan ($559.72 million), the park was built to cover about 27.13 hectares and consists of three zones - the north zone is mainly for conducting technical research and innovation in cyberspace security, the middle zone is mainly for headquarters offices, R&D innovation, pilot production and system integration, and the south zone undertakes leading enterprise projects with a core of micro and nano electronic device industrial chains.

The first 17 companies to settle in the park boast strong driving capacity and high development potential, and will contribute to the development of clusters in the sensor industry in Licheng district.

"After settling in the industrial park, my company's output value is expected to reach about 1.5 billion yuan in the next five years," said Liao Yiqi, CEO of Katt Gatt, a provider of smart home products and smart living platforms from Beijing.

The event also included an introduction to Licheng district, and a signing ceremony for 18 major projects.