Large companies invest in Xinjiang

Source: [13:35 July 23 2009]

The riot in Urumqi has not dampened the enthusiasm of large-scale companies wanting to invest in the Xinjiang Uygur Autonomous Region. On Tuesday, a major power company broke ground for a new wind power site in Turpan.

The foundation for cooperation is solid. The China Huaneng Group joined the Xinjiang regional government to tap the wind power. Their first project, with a generating capacity of 49.5 megawatts, is already operating. Its output equals 37,000 tons of standard coal, a significant reduction of carbon dioxide and air pollution. The new project doubles that capacity. The company says it’s confident about the investment environment.

Huang Yongda,vice general manager of China Huaneng Group, said, "We believe the riot will not have a negative impact on Xinjiang’s investment environment, nor will it reverse the good momentum of Xinjiang's economic development, nor our confidence in investing in the region."

Huaneng is not the only company feeling confident. More than 190 large- scale companies conduct business in Xinjiang. Many have increased their investment, even after the riot.

Kurax Mahsut, vice chairman of Regional Government, Xinjiang, said, "In fact, we have at least two new projects that will hold either opening or completion ceremonies over the next couple of days. I think this demonstrates that our region’s environment and development trends for investors are continuing to improve."

Xinjiang is rated as having the second largest wind power potential in China. The regional government plans to install hundreds of megawatts of generating capacity, and turning the often-troublesome winds into real income.

Investing in wind power is not only about making money. Both investors and the government expect to harness more of this green energy to achieve fast, yet sustainable, development.