Japanese electronics manufacturer Ricoh is set to build a second plant producing thermo-sensitive products in Wuxi National Hi-tech District (WND), according to Wuxi Daily.

The manufacturing base will cost 600.41 million yuan ($90 million) to build, with construction in January next year. Upon coming into operation in April 2018, the plant is expected to bring in an annual sales revenue of 300 million yuan.

Ricoh, a Global Fortune 500 enterprise, has been a leading manufacturer of office and optical equipment since it launched a thermal media plant in WND in 2006.

With the building of the new plant and increased production capacity, Ricoh has designated Wuxi as the headquarters of its thermo-sensitive products in China.

Wuxi mayor Wang Quan and Mori Yasutomo, vice president of Ricoh, attended the signing ceremony on Aug 26.

Wang said that cooperation with advanced manufacturers like Ricoh, will help build Wuxi into a new highland of modern industry. "The Wuxi government will continue supporting Ricoh's new project as usual," he added.

At the ceremony, Mori spoke of Ricoh's global development. He expressed the company's eagerness to build the new plant in Wuxi.