City aims to become international center for shipping and logistics

Zhanjiang, a port city in southwestern Guangdong province, has signed deals for 30 projects with a total value of 56 billion yuan ($8.84 billion), it was announced at the city's investment promotion conference on Wednesday.

The ventures span a range of industries from petrochemicals, logistics, tourism and culture to infrastructure.

City officials of Zhanjiang, Guangdong province, attend a project-signing ceremony.?[Photo/China Daily]

The projects reflect the city's aim to become an international shipping and logistics center serving the Beibu Bay region and providing a gateway to Southeast Asia, said Liu Xiaohua, Party secretary of the city.

Another two mega-projects have also been finalized for construction in the city.

One is a Sino-Kuwaiti petrochemical complex that will cost 59 billion yuan. Zhang Jianhua, vice-president of China Petrochemical Corp, said the complex would be one of the largest joint projects of its kind between China and a foreign country.

The petrochemical complex is designed to process 15 million tons of crude oil and turn out 1 million tons of ethylene annually.

The oil refining part of the project is expected to be finished by the end of 2014, while the petrochemical portion is due to come online in 2015, said Chen Xiaowen, head of the project preparatory committee.

The project is forecast to have annual revenue of 100 billion yuan.

The other mega-project involves metals giant Baosteel Group Corp - an iron and steel project that will cost 63.5 billion yuan.

Zhanjiang Mayor Wang Zhongbing said the city has finished demolition and infrastructure work for the project.

Wang said the project proposal has moved from the National Development and Reform Commission, the top economic planner, to the State Council, where it awaits final approval.

"Baosteel has put its strategic focus for the next 30 years in Zhanjiang," Wang said.

He said the first phase of the project would be finished in 2014. The complex is designed to produce 10 million metric tons of high-end steel products a year.

zhengyangpeng@chinadaily.com.cn