Alshaa League signs 30.6b yuan worth of projects in Shenzhen

A signing ceremony takes place during the investment promotions event in Shenzhen. [Photo/WeChat account of Alshaa Release]

Nine projects involving investment of 30.6 billion yuan ($4.19 billion) were signed on Oct 20 by Alshaa League in North China's Inner Mongolia autonomous region. 

The projects were inked during the Inner Mongolia Investment Promotion Conference held in Shenzhen city, in South China's Guangdong province, on Oct 20.

A total of 123 Inner Mongolia projects were signed at the conference, covering 11 fields including energy, equipment manufacturing, new materials, chemicals, tourism and the digital economy. The total investment for these projects hit 310.6 billion yuan, with Alshaa League contracts accounting for around 10 percent of the total. 

Hubei Xinghuo (Yingcheng) Chemical Co is a company engaged in chemical production and other businesses. At the conference, the company signed a contract for a project to build an annual production capacity of 15,000 metric tons of dimethyl disulfide and 100 tons of diselenide, costing 310 million yuan.

Elsewhere, Inner Mongolia Haopu Technology Co was established in the Alshaa League High-tech Industrial Development Zone in June 2018. It's mainly engaged in the research, production and sales of fine chemicals and pesticide intermediates such as dimethyl methyl phosphonate and phosphorus flame retardants.

At the event, the company signed a contract to invest 800 million yuan in a new project. 

The signing of the projects is expected to not only strengthen cooperation between Alshaa League and Shenzhen, but also promote the mutually beneficial development of both regions.