OREANDA-NEWS. October 24, 2011. Japan's NSK Ltd held a ground-breaking ceremony for its biggest overseas plant on Thursday morning in Hefei, capital city of China's Anhui province.

With an investment of roughly 2 billion yuan (USD 313 million ), the plant is the world-renowned bearing maker's 12th production base in China and also its largest overseas bearing factory.

The construction started four months after NSK Ltd.signed an agreement with the administrative committee of the Hefei Hi-Tech District to set up NSK Hefei Co.,Ltd.

The central China region where Hefei is located has greater potential for development than the coastal region in China, so NSK preferred to make the biggest investment in Hefei, Norio Otsuka, president of NSK Ltd said.

The plant is expected to have an annual sales of 3 billion yuan and pay 80 million yuan in taxes every year.