Wuhan Zhongye, a Chinese subsidiary of Wuhan Industries, has embarked upon phase one construction of a 27 million Euro plant in Portugal.

Carlos Teixeira, CEO of Wuhan Zhongye, a metal mould and coatings group that will be operating as a Mould Advanced Service Centre, said the new factory will be completed by June 2015 following an investment of 184 million Euros by 12 different companies.

At the moment, Wuhan Zhongye exports only to Brazil and Spain but wants to cover the whole of Europe and Latin America, according to Teixeira.

Wuhan Industries has been in Portugal since 2011 in Oliveira de Azeméis selling steel and providing services to the mould and metal-mechanics industry in general.