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Inner Mongolia's Wuhai attracts another major investment project

2021-01-20 16:47 743

WUHAI, China, Jan. 20, 2021 /PRNewswire/ -- With a total investment of 13.268 billion yuan, the 5-million-ton coking co-production project for Guangju New Materials was officially launched recently in Wuhai low carbon industrial park. It is expected to lead the city's coking industry to develop in clusters and on a large scale and explore new ways for the transformation and upgrading of traditional industries, according to Wuhai City Publicity Department.

In 2020, a significant year, Wuhai strives to accomplish the tasks in epidemic prevention and control and economic and social development with concrete results in major project construction.

At the beginning of this year when the Covid-19 broke out, Wuhai managed to prevent and control the epidemic and contained the spread of the epidemic in the shortest possible time, and took the lead in clearing all local cases within Inner Mongolia, thus creating conditions for work resumption.

In mid-March, eight key industrial projects with a total investment of 11.235 billion yuan were started, as Wuhai City accelerated the construction of key projects.

In the first half of 2020, the GDP of Wuhai decreased from 1.7 percent in the first quarter, but rose by 3 percent in Q2. The GDP of Wuhai has created a Smiling Curve with steady economic recovery. Its growth rate bucked the trend and ranked at the forefront in Inner Mongolia.

In extraordinary times, unconventional measures are needed. Wuhai regards improving business environment as an important breakthrough to promote high-quality development. The city has opened green channels for approval of work resumption, introduced policies and measures such as employment guarantee, replacing subsidies with awards, and reducing the rental costs of state-owned assets. The supply of water rights, land, capital and other factors were boosted during that period with full implementation of pro-business policies. A string of supportive measures helped enterprises address their difficulties and ensure the early landing, commencement and production of projects.

On November 15, 6,311 sets of resettlement houses of the shanty reconstruction project were delivered, fulfilling the annual task ahead of schedule. On November 16, the Gandel flyover was opened to traffic one month earlier than expected. It only took Yongtai Chemical Co., Ltd. 9 months from the start of construction to the preparation for trial production at the end of the year, a record speed for major project construction in Wuhai. Huichang, Qingshi, Shilian and other key industrial projects have been completed and put into operation. In the first three quarters, the resumption rate of 41 key industrial projects reached 97.6 percent, and 17 key industrial projects are expected to be completed within the year. In the closing year of the 13th Five-Year Plan, Wuhai enjoyed a bumper harvest of project development.

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Source: Wuhai City Publicity Department
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