Sep. 30, 2009 (China Knowledge) - Tianjin, one of the four municipalities in China, has started construction of Nangang Industrial Zone, an industrial complex that the government plans to attract world leading players in heavy and chemical industry fields.

The new industrial zone will be built in three phases and is expected to be completed in 2020. The total investment is estimated to be RMB 800 billion, with industrial value-added hitting RMB 350 billion.

According to the government plan, Nangang Industrial Zone will comprise Terminal Storage & Modern Logistics Park, Modern Petrochemical Industry Park, Equipment Manufacture Park, Recycling Economic Utility Park, focusing on the development of petrochemicals, metallurgy & steel, equipment manufacturing and port logistics.

Three projects, including an 800,000-cu m depot project, have already started construction in the zone, with a total investment of RMB 1.33 billion. It is reported that another 30 projects are in talks.