The company affliated with Albion chairman Guochuan Lai is to build a series of eco-friendly towns across the Chinese province of Guizhou Province.
Palm, which is the club's official partner, will build up to six towns which will be named 'West Bromwich Albion Sports Soccer Towns'.
It's believed the Baggies' brand helped Palm win the contract and the club will be rewarded with a percentage of revenue generated from the project.
In return, Albion will send members of its coaching department over to the towns to teach youngsters how to play football.
Lai helped turn Palm into one of China's largest landscape, development and contstruction companies. He was the managing director at Palm for more than two decades before stepping down in 2014 to focus on his private investment interests.
He purchased the club almost a year ago with the assistance of Yuni Investment. Palm is one of three main shareholders with an 18% share of the organisation.
The West Bromwich Albion Sports Soccer Towns are just one of a number of initiatives by the Chinese Government in an attempt to reduce pollution across the country.
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