First 7 Months See 165.3 Billion Invested in Major Projects
Date: 2015-9-10

First 7 Months See 165.3 Billion Invested in Major Projects

According to our source from the Provincial Development and Reform Commission, from January to July, major projects at provincial level received 165.3 billion yuan investment, accounting for 58 percent of the annual investment plan.

Out of the 71 new projects, 59 projects, including Xi’an-to-Yinchuan Railway, Xi’an subway Line 1 (phase two), Samsung Huanxin power battery production line, Johnson & Johnson global supply-chain production base (phase one), are in construction. The operation rate is 83%.

In 2015, 54 provincial projects are chosen as key projects to be assessed. The total investment amounts to 296 billion yuan with an annual investment of 34 billion. By the end of July, 31.665 billion yuan has been invested, making up 92.9% of this year’s planned investment. 11.93 billion and 2.394 billion yuan have been invested in  Xi’an city and Xixian New District respectively, making up 117.5% and 158.6% of this year’s planned investment respectively.

As a major project, the 39.15-kilometer-long subway Line 3 starts from Yuhua village in the western suburb and ends in the international port district in the eastern suburb. By the end of July, the major structure of the 26 stations of Line 3 have been built and most of the entrances and exits have started construction, nearly half of which have already finished construction. All tunnels have been finished except the tunnel from Hua Jia Temple to Tong Hua Gate through Chang Le Slope and all tracks have been built except the track between Shi Jia Street and Bei Chi Tou. Over half of the decoration work has been completed. Long rails are expected to be completed by the end of this year and the subway is expected to be open to traffic by the end of 2016. For the first seven months of this year, 2.07 billion has been spent on the construction of Line 3, accounting for 59.14% of this year’s 3.5 billion investment plan.

The Samsung project for 12-inches flash memory chip that is expected to receive 7 billion dollars worth of investment went into operation in May of last year. Now, some of the equipments of the production line are being purchased, installed and debugged. By the end of July, 42.79 billion RMB worth of fixed assets have been invested. The Samsung packaging and testing project which will absorb 500 million dollars worth of investment has received all the fixed-asset investment of 3.2885 billion RMB by the end of July.