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          Building a strong port industry

          By Qiu Quanlin (China Daily)
          Updated: 2006-10-30 11:14

          According to Chen, the city also plans to build 13 more public berths and another 12 industrial berths during the 11th Five-Year Plan period (2006-10).

          Enhanced infrastructure development has helped improve the city's investment environment, which in turn leads to growing domestic and overseas investment, Chen said in a recent interview with China Daily.

          Currently, there are a number of domestic and overseas big names having invested in the city, of which some are from world top 500 multinationals, according to Chen.

          One of the key investment projects was the Great Ocean Oils and Grains Industries (Fangchenggang), which was founded at the end of 2001.

          The company was jointly invested by the US-based archer Daniels Midland, the China Food and Oil Export and Import Group Corporation and Singapore-based Wilmar Group.

          With an industrial output value of 3 billion yuan (US$375 million) in 2003, it has quickly become one of the biggest comprehensive food and oil companies in Southwest China.

          "The company's success in Fangchenggang shows that the city has become an ideal place for foreign and domestic investment," Chen said.

          Another big project, the first phase of the Fangchenggang Power Plant, invested by China Power (Hong Kong) Co Ltd with 5.2 billion yuan (US$650 million), has also begun construction.

          Chen also emphasized that the city has attached great importance to environmental protection along with port industry expansion.

          "Although land requisition for industrial use is sought after, we will not allow any environmental violations," Chen said.

          Fangchenggang has an area of 6,181 square kilometres. Forests within the city, including a 330-hectare mangrove forest, have been well protected, according to Chen.


           12

          (For more biz stories, please visit Industry Updates)



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