At a construction site for a calcium carbide project funded by Hong Kong's Longrui Group, Zhang Jing from the company is full of anticipation.
"By the end of this year, a large chemical plant will stand here with an annual calcium carbide output of 200,000 tons," he said.
Calcium carbide is widely used in the chemical industry as a precursor to other compounds, including acetylene.
Last year Longrui invested 3 billion yuan in Mudanjiang, an eastern city in Heilongjiang province, to develop the site and a series of coal and electricity projects. Construction began last November.
"We are fully confident about the investment environment in Mudanjiang as the local government has issued preferential policies for overseas investors," Zhang said.
The Mudanjiang government has made the city more appealing for investment in its quest to attract overseas capital to develop local coal and electricity production.
The local government said Mudanjiang anticipates 70 big projects will arrive in the near to medium term. It said it will work closely with neighboring cities to jointly develop a hub of new growth in the provincial economy.
The city has already drawn some big names, including as China National Coking Co Ltd.
In the first five months of this year, the city realized a fixed investment of 3.14 billion yuan, an increase of 105.5 percent over the same period of last year, the top for cities in the province.
Source: China Daily
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