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Binhai chemical zone plan under final discussions

By Tu Lei (chinadaily.com.cn)
Updated: 2007-07-05 17:36

The development plan for theTianjinBinhai Chemical Zone has entered final discussions, according to a meeting held by the Tianjin municipal government yesterday.

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Tianjin aims to build the zone into a high-level area with pooled resources, high technology and energy-saving measures within 10 years from 2006 to 2015, said the plan.

With an investment of 100 billion yuan (US$13.16 billion), more than 20 projects are under construction or are to be launched by the end of this year.

The area will be a national petrochemical industry base that closely connects upstream and downstream products for sustainable development, according to the plan.

Currently, there are more than 10 firms from top 500 global corporations includingSinopec, CNOOC, CNPC, Shell and GM that have registered there. It is reported that the chemical zone has planned more than 260 projects, covering industry development, infrastructure construction, and public works.