Proceedings start as the ceremony takes place in Xinghua city. [Photo provided to etaizhou.gov.cn]
A groundbreaking ceremony for 31 major new projects of Xinghua city – a county-level city administered by Taizhou, in East China's Jiangsu province – took place on Feb 18, with the building sites located in the Xinghua High-tech Zone and in the Xinghua Economic Development Zone.
Among the projects, seven involve an investment of over 500 million yuan ($72.89 million) each, including a 4-billion yuan stainless-steel comprehensive trade demonstration zone.
The total investment in the 31 projects is an estimated 13.44 billion yuan, with 8.18 billion yuan in capital expenditure allocated for the current year. When ramped up to design capacity, they are forecast to generate an annual revenue of 25.91 billion yuan.
The projects that need to use land have all received construction permits.
Another project is phase II of the Zhongtuo high-speed wire rod rolling plant being funded by Jiangsu Delong Nickel Industry Co Ltd, the only whole supply chain stainless-steel and production-oriented enterprise in China.
It has an investment of 2 billion yuan and will have an annual output capacity of 400,000 tons of stainless-steel high wire.
When it comes to mega projects, Xinghua has committed to doing its utmost to procuring the land on contract sign-ups and to even allow construction to start wile land is being sourced, to improve the construction efficiency.