China's eastern Fujian province has emerged as a focal point for a number of giant state companies, attracting billions worth of investments.$ [8 x& N3 h( {1 U- @
Late last year, China's largest offshore oil producer CNOOC launched two major projects in the province, taking the total investment of the oil company in Fujian to RMB 15 billion so far.9 ?2 r3 V; [/ \+ w4 ~& J
In 2008, China National Nuclear Corporation invested nearly 100 billion yuan on a nuclear power station in Fujian's Fuqing area and Chinese chemical conglomerate Sinochem Group spent RMB 17.7 billion to build facilities capable of deep processing 5 million tons of heavy oil annually.9 F9 P& v6 v9 F x
State Development and Investment Corp. and Sinopec have also dumped RMB 22 billion and RMB 24 billion in giant projects in the province. |