HAIKOU /China/, December 24. /TASS/. The key deep-sea port in South China's Hainan province will step up cooperation with France to develop the petrochemical industry on the territory of the adjacent industrial area, Sansha TV channel (SSTV) reported.
According to its data, in order to stimulate projects in this area, the administration of the local industrial site has signed a memorandum of cooperation with the French state energy company "Électricité de France". According to the agreement, the parties will implement a project to lay a heating network pipeline.
The first phase of construction, as noted, will be completed by September 2022. As a result, the enterprises based in Yangpu will have a reliable source of energy to boost production.
According to official statistics, Yangpu's petrochemical industry accounts for up to 80% of the industrial area's output. It is expected that promoting the development of this industrial area, which is considered an important cluster for regional development, will boost Hainan's economic growth dynamics.
Yangpu is located in the city of Danzhou (northwest of the island), administratively under the direct subordination of the provincial government. It provides about 45% of the island's foreign trade turnover and about 20% of foreign investments attracted by the province. The adjacent economic development zone plays an important role in the development of China's transportation network. According to the Chinese government's plan, by 2035 the port will become a key point for distributing cargo flow from various regions of the country to Southeast Asia and Oceania, Europe, and North America. It is expected that by 2025 it will become a transportation hub of regional importance, with up to 5 million containers passing through it annually.