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Dragon Capital Group Subsidiary Selected to Participate in National Science and Technology Research Project Focusing on Large Scale Programmable Logic Controllers
Dragon Capital Group Subsidiary Selected to Participate in National Science and Technology Research Project Focusing on Large Scale Programmable Logic Controllers.
About this update from Dragon Capital Group Corp.
[{"type":"text","content":"\n\n\n\n\n\n\n\nDragon Capital Group Subsidiary Selected to Participate in National Science and Technology Research Project Focusing on Large Scale Programmable Logic Controllers\n\n\n\n\n\n\n\n\n\nDragon Capital Group Subsidiary Selected to Participate in National Science and Technology Research Project Focusing on Large Scale Programmable Logic Controllers\n\nThe project is expected to cost the government approximately $3 million and last through 2015\n\nPR Newswire\n\nSHANGHAI, China, August 27, 2013\n\n\n\n\n\n\n\nSHANGHAI, China, August 27, 2013 /PRNewswire/ --\n\n\nDragon Capital Group Corp. (OTC: DRGV), a leading holding company of emerging high-tech companies in China, announced today that its Shanghai Yazheng Information Technology Company (\"Yazheng\") subsidiary has been selected by the Chinese Central Government as one of the participants in a national science and technology research project focusing on the application of safe and large-scale programmable logic controllers (PLC's). The project is expected to begin in the fourth quarter of 2013 and last through 2015. The total estimated R&D cost of the project for the government is approximately 20 million RMB ($3 million U.S.).\n\n\nAs China continues to accelerate the process of industrialization and automation, more and more companies are attempting to expand the scale of production. Productions facilities with multiple parameters, high risk and full automation features are being deployed across a wide array of industries including energy, transportation, manufacturing, aerospace and chemical production. As a result, market demand for high-end safety control products is growing rapidly throughout China. The current overall PLC market is estimated to be approximately 6-7 million RMB annually with the market for large-scale PLC's including large industrial plant control systems, safety interlock systems, safety instrumented systems and high-end security control systems representing about 30% or 2 billion RMB. This market, which is expected to experience a better than 10% annual growth rate, has been mainly dominated by large foreign corporations Projects like this are being sponsored by the government to foster domestic development of high-end control systems to enable China based companies to capture a much ...