An aerial view of Zhangdian district in Zibo. [Photo/IC]
Zibo in East China's Shandong province is stepping up its construction program for the second quarter of the current year.
Zibo held a centralized commencement for 255 major projects, 174 of which are private investment projects, with a total investment of 121.7 billion yuan ($18.06 billion) on May 16, aiming to speed up project construction.
The annual investment target for the projects is 31 billion yuan.
The projects focus on industrial engineering, modern services, power and energy infrastructure, modern agriculture, and quality of life, among other things.
The main venue for the commencement is the site of the planned PA66 factory developed by Longhua Polymer Materials Co Ltd in Gaoqing county. PA66, is a high-preforming thermoplastic resin which can be applied in a wide range of fields. The factory is expected to produce 1.08 million metric tons of the resin per year, which would make it the largest PA66 production base in the country.
"We will try to put it into production in October next year," said Han Zhigang, chairman of the company.
He also said that its annual output value is expected to reach 24.8 billion yuan, with profits and taxes amounting to 2.8 billion yuan, and should be able to provide jobs to more than 600 people.
A panel shows the major projects of the centralized commencement event. [Photo/WeChat ID: zibofabu2014]
