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Wenzhou starts construction on seven govt-funded infrastructure projects

ezhejiang.gov.cn| Updated: November 4, 2022 L M S


Seven government-funded infrastructure projects start construction in Wenzhou, East China's Zhejiang province, on Nov 2. [Photo/66wz.com]

Seven government-funded infrastructure projects started construction in Wenzhou, East China's Zhejiang province, on Nov 2, local media outlets reported.

The infrastructure projects were funded by the Wenzhou government with a total capital pool of 27.2 billion yuan ($3.75 billion) and include municipal facilities, industrial parks, and traffic networks. Two of the projects cost over 5 billion yuan. A government fund of 2.3 billion yuan has been invested.

The most expensive project was a gas supply integration and security improvement project costing 8 billion yuan. About 600 million yuan in government funds have been invested. It is expected to safeguard the city's emergency gas supply capacity and the security of gas use.

Other projects included the reconstruction and extension project of the Ningbo-Taizhou-Wenzhou highway, the improvement of space in front of the Wenzhou North Railway Station, the first phase of the Longgang New City Water Works, and environmentally friendly parking lots for residential areas along the Oujiang River.

The Central Bank of China suggested local governments make good use of various financial tools to support infrastructure construction in the second half of the year. The Wenzhou government has hence funded 17 projects with investment totaling 52 billion yuan. A fund of 4.1 billion yuan and loans of 7.3 billion yuan have been put in place.