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115 projects worth 247.88b yuan break ground in Ningbo

chinadaily.com.cn| Updated:  June 30, 2022 L M S

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A construction site in Ningbo, East China's Zhejiang province. [Photo/cnnb.com.cn]

One hundred and fifteen projects with a combined investment value of 247.88 billion yuan ($38.14 billion) began construction in Ningbo, East China's Zhejiang province, on June 28, according to local media reports.

The projects are primarily related to fields including equipment manufacturing, ecological conservation, green energy, urban infrastructure and public services.

Of the 115 projects, five are worth more than 10 billion yuan in investments, while 27 received an investment of over 2 billion yuan.

Thirty-five projects with a combined investment value of 132.6 billion yuan are related to infrastructure construction.

The city will build 102.6 kilometers of rail lines, 35 kilometers of highways, three hospitals and welfare houses as well as seven schools.

Among them is the first phase of the city's subway line 6. With an investment of 31.53 billion yuan, the line stretches 38.6 kilometers and has 24 stops in districts of Haishu, Jiangbei, Yinzhou and Beilun.

In addition, 34 projects with a total investment value of 45.85 billion yuan are related to industrial development. The most notable one is a project funded by Asia Pulp & Paper (Ningbo) Co Ltd, which is expected to produce one million metric tons of paper annually.

Asia Pulp & Paper Co Ltd, a subsidiary of Sinar Mas Group from Indonesia, is the world's largest paper company. It owns a dozen pulp and paper companies and more than one million hectares of fast-growing forest land in Indonesia, China as well as other countries and regions.

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