Jarud Banner, Tongliao, Inner Mongolia has recently signed a cooperation agreement on the aluminum hub production project with Zhejiang Jinfei Kaida Wheel Co., Ltd. The project will be implemented in two phases with a total investment of 500 million yuan, of which 200 million yuan is for the Phase I project to be put into production in 2013 with a designed annual output of 50,000 ton aluminum alloy and 1.2 million aluminum wheel hubs and 300 million yuan is for the Phase II project to be put into production in 2015 with a designed annual output of 3.2 million aluminum wheel hubs and an estimated annual sales revenue of 600 million yuan.