Hebei ‘Ghost Town’ to Get Billions More in Investment
Hebei’s provincial government has approved a development plan that aims to revitalize a once-promising industrial zone, now reportedly a ghost town despite billions in investment.
The North China province said in a statement published last week that it endorses “in principle” a plan to turn the Caofeidian industrial zone into an oil-refining and petrochemical integrated zone, with oil-refining and petrochemical facilities that have a total annual production capacity of about 50 million metric tons (55.1 million tons) per year.
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