Bayan Obo mining district in Baotou, Inner Mongolia [Photo/WeChat account of Wenming Bayan Obo]

Seven major projects with a total investment of 7.03 billion yuan ($1.07 billion) are to be developed in Bayan Obo mining district in Baotou, North China's Inner Mongolia, following a set of agreements signed on Nov 27, according to Baotou Daily. 

Bayan Obo mining district in Baotou, Inner Mongolia [Photo/WeChat account of Wenming Bayan Obo]

The seven projects cover areas such as the industrial internet, financial insurance, new energy, titanium alloys, and industrial technology. They include a new type of mineral potash fertilizer production-university-research integration project with a total investment of 3.05 billion yuan, developed by Shenzhen Qianhai Dadi Mineral Technology Co, and a new energy zero-carbon smart manufacturing plant project with a total investment of 300 million yuan, developed by Zhongrun (Inner Mongolia) New Materials Co.

According to the investors, the district's first-class business environment was one of the main reasons they chose to develop projects in the district. It is hoped that the new projects can contribute to the high-quality development of the region.