German software giant SAP announced it plans to spend 40 billion yuan (5.8 billion US dollars) on building an industrial park in southwest China's Sichuan province.

The industrial park, in Tianfu New Area in Chengdu, the capital city of Sichuan, is scheduled to be completed by 2021. The park will include centers for data innovation, product R&D, talent development, global purchases, intelligent logistics as well as education and medicare facilities, said Liu Qiang, vice-president of SAP Greater China.

After completion, the smart industrial park will have international influence, with intelligent manufacturing as its core industry, according to Zhou Siyuan, deputy director of the administration committee of Tianfu New Area.