The blueprint for the Tianjin Binhai Chemical Zone is nearing finalization. This zone will be one of the eight functional zones in the Tianjin Binhai New Area (TBNA), the 80 sq km chemical zone, that is envisioned to serve as a world-class petrochemical base.
The zone will concentrate on developing the Dagang ecological petrochemical base and Lingang marine petrochemical and incubator base by equipping with skilled manpower, cutting-edge technology and energy-efficient measures for research and development purposes Tianjin aims to build the zone into a high-level area with pooled resources, high technology and energy-saving measures within 10 years from 2006 to 2015.
Having drawn in investments worth RMB100 billion (US$13.16 billion), more than 20 projects are estimated to commence or launch construction by year end. It has been forecast that the combined investments in the zone's projects will hit RMB130 billion (US$16.92 billion) in three years time.
Binhai's expansion will invigorate the Bohai Rim economy, which in turn will strengthen Mainland's northeastern "rust belt" northeast in Manchuria. The region is also slated to emerge as a new economic driving force, on par with the thriving Pearl River Delta and the Yangtze River Delta.