Thirty-one key projects with investment totaling 57 billion yuan ($8.52 billion) kicked off a ground-breaking ceremony in Wenzhou, East China's Zhejiang province on June 28, local media outlets reported.
The projects, which covered aspects such as industry, infrastructure, urban organic renewal, and people's livelihood, will have six of them start construction in July, 10 start construction in August, and 15 start construction in September.
Five of the projects will be invested at 2 billion yuan or higher, including two projects worth over 10 billion yuan in investment.
Huafeng Group, a new materials manufacturer headquartered in Wenzhou's Rui'an city, will invest in 11.8 billion yuan for a high-performance degradable new materials project with annual capacity of 600,000 tons. Its annual output value is expected to reach 12.7 billion yuan once put into operation. It will strive to break the technological bottleneck, improve the city's new material industry chain, and explore a new path to promote the green development of the industry.
The other two representative projects were a 3-billion-yuan investment in seawall to improve the tide-prevention and waterlogging drainage system in the coastal areas of southern Zhejiang, and a 4.15-billion-yuan investment in upgrading the coastal transportation network of Wenzhou.
