Hohhot promotes key projects worth 403b yuan

capital of North China’s Inner Mongolia autonomous region -- has been promoting key projects each worth 1 billion yuan ($140 million) to be established in the city, according to a report in the Hohhot Daily.

According to the regional economic cooperation bureau of Hohhot, during the first five months this year, a total of 37 new and ongoing major projects each worth 1 billion yuan or more kicked off-- as well as projects under negotiation.

The projects -- covering areas including agriculture, animal husbandry, new materials, new energy and modern logistics -- will draw a total investment of 402.55 billion yuan.

Among the key projects is the Phase II Coal-to-PTA Project being developed by Inner Mongolia Jiutai New Material Co, which is located in Togtoh county with an investment of 59.75 billion yuan.

When the project is complete and starts operations, it is expected to produce 2.4 million tons of PTA, 600,000 tons of polystyrene, 170,000 tons of surfactant, 110,000 tons of water reducer, 300,000 tons of liquefied natural gas and 200,000 tons of heavy diesel annually.

Elsewhere, the Yuanda shopping mall project in Huimin district has an investment of 10 billion yuan. At present, a cooperation framework agreement has been signed to build a fourth-generation commercial complex of over 400,000 square meters.

Meanwhile, Shinsun Industrial Group's town project, with an investment of 20 billion yuan, is located on the front slopes of Daqing Mountain.

Officials said it will create a special town, integrating shopping and tourism.