119.3b yuan invested in new projects in Binhai New Area

Construction began on 115 key projects with an accumulative investment of 119.3 billion yuan($18.35 billion) in Tianjin's Binhai New Area on March 15.

The projects cover a variety of industries such as equipment manufacturing, new materials, intelligence technology, biomedicine and modern services.

With an average investment of more than 1 billion yuan, these projects are expected to be powerful and lead "new infrastructure" and industry upgrading to form a modern industry system.

Kingsoftcloud's cloud-computing data center is one of the projects. It is located in Yat-Sen Scientific Industrial Park in TEDA, a high-tech industrial area dedicated to the development of high-tech industries such as electronics, biological products, pharmaceuticals, precise machinery and environmental protection.

"The project is planned to become the core cloud-computing base of Kingsoft Cloud in North China, with no less than 80,000 physical servers," according to a staffer.

The data center will become the supporting infrastructure for the company's global cloud-computing business after it is completed and put into production. Its output value is expected to reach about 1 billion yuan.

Private investors have shown great confidence in Binhai, investing in 83 projects, accounting for 72 percent of the total number of projects.

Also, a smart supply chain industrial park will be built in the Tianjin Port Free Trade Zone by a private company. The park has a total investment of 800 million yuan.

The storage facilities that will be built are mainly positioned as international aviation logistics distribution centers, cold chain warehousing logistics centers, cross-border e-commerce distribution centers and aviation parts distribution centers.

After the project is completed and put into operation, the first year's cargo volume is expected to hit 22,000 tons and reach 28,000 tons in five years.

This year, the area will start the construction of 211 new key projects with a total investment of 170.2 billion yuan to enhance urban development, manufacturing and world-class port construction.

（Source：exploringtianjin.com）