Heilongjiang launches 14 PPP projects

Heilongjiang province unveiled a batch of public-private partnership (PPP) projects on Oct 26, in a bid to boost economic and social development by encouraging more participation of social capital.

Total investment in the 14 newly-launched PPP projects is 70.71 billion yuan ($10.63 billion), covering such sectors as public services, water conservation facilities and transportation.

PPP projects are collaborative projects between governments and private companies that are mainly funded and operated by the latter.

Three out of the 14 PPP projects involve Harbin, the capital city of Heilongjiang province.

The first phase of Metro Line 4 in Harbin is one of the most significant projects. The line is 35.5-kilometers long, linking urban areas between the two sides of Songhua River. It has 29 stations; and total investment in the project is 28.2 billion yuan.