OCT Group to splurge 238 billion yuan in “cultural tourism and urbanization” of Xi’an
OCT Group has signed a 238 billion yuan strategic tie-up with Xi’an Municipal Government to bring its “cultural tourism and urbanization” model to the ancient city.
Shenzhen-based OCT Group, one of the few state-owned tourism enterprises directly supervised by the State Council, inked a 238 billion yuan strategic cooperation agreement with Xi’an Municipal Government on June 19.
Following the agreement, the resort and tourism operator will apply its development model of “cultural tourism and urbanization” in Xi’an in the next five years through a series of projects based on the ancient northwestern city’s historical and cultural resources as well as modernization needs.
The projects involve investments in city districts such as Xixian, Weiyang, Beilin, Lianhu and Qujiang. About RMB 67 billion will be invested in Fengdong New Town in the Xixian New Area, while RMB 50 billion will be invested in Qujiang.
One of the key projects is the Fengdong OCT cultural tourism complex in the Xixian New Area covering 16.25 sq km. It will comprise a Happy Valley resort, Haojing National Historical Site Conservation Center, the Silk Road International Conference Center and others. (Translated by Jerry)