A major consortium loan for the new USTC Silicon Valley High-tech Incubation Park, currently under construction in the Hefei National High-tech Industry Development Zone – located in Hefei city, capital of East China's Anhui province – was completed recently.

The disbursement of the first installment of the loan totaled 250 million yuan ($34.51 million).

Led by the Bank of Communications, the loan involved the participation of the Bank of China, the Industrial and Commercial Bank of China, Huishang Bank and Hengfeng Bank, the total line of credit is 4 billion yuan ($552.22 million) – for the largest consortium project in the high-tech zone.

An artist's impression of the USTC Silicon Valley High-tech Incubation Park, currently under construction in Hefei. [Photo/WeChat ID: hefeigaoxinfabu]

The USTC Silicon Valley High-tech Incubation Park is located at the intersection of Changning Avenue and Boyanwan Road in the high-tech zone.

With a total investment of about 5.55 billion yuan and a land area of about 276 mu (18. 4 hectares), the project will have a total construction area of 660,000 square meters.

It is being divided into two blocks – east and west – and the main construction includes high-rise and multi-story factories, as well as supportive service facilities.

On completion, the incubation park will be developed in conjunction with the China Speech Valley.

It will serve as a platform for entrepreneurial incubation and technology commercialization for the faculty, students and alumni of the University of Science and Technology of China and other universities and research institutes.