Four small and medium-sized enterprises are to invest a combined NT$1.3 billion (US$42.49 million) in the nation, the Ministry of Economic Affairs said yesterday after it approved their applications to take part in a government program that provides various incentives for overseas Taiwanese companies investing at home.

GI DING Technology Co Ltd (佶鼎科技), which provides recycling and hazardous waste treatment services mostly for the electronics industry, plans to invest more than NT$200 million to expand its facility in the Changhua Binhai Industrial Zone (彰濱工業區).

The company is to buy equipment for the recycling of copper and environmentally friendly electricity generators for its facility, which has specialized in the treatment of liquid waste, the ministry said, adding that the company would create 30 job opportunities.

FENG FUH Machinery Co Ltd (楓富機械), which produces automobile parts, electrical tools and mechanical parts, is to set up a plant in Taichung’s Taiping Industrial Park (太平產業園區) to tap the smart manufacturing market.

The company plans to introduce 3D printed technology, Internet of Things equipment and an automated optical inspection system, while adding smart computer numerical control machines, the ministry said.

Sock manufacturer Huan Shen Co Ltd (煥昇實業), which specializes in cooling fabrics, is to invest NT$40 million to expand its production capacity and introduce smart weaving machines to cut its production costs, the ministry said.

PeiLi Pharmaceutical IND Co Ltd. (培力藥品), which develops drugs for chronic illnesses, hormone replacement pills and other medications, is to invest more than NT$500 million setting up a smart production facility and research and development center in the Taichung Industrial Park (台中工業區) as it aims to increase its presence in the US market.

PeiLi expects to create 38 job opportunities, the ministry said.

The program has seen 42 companies invest more than NT$25.2 billion, creating 2,037 jobs, the ministry said.