North China's Hebei Province plans to introduce foreign capital in developing its rich geothermal resources, a provincial government official said Wednesday.
Hebei boasts geothermal reserves equal to 17.06 billion tons of coal, of which the proven geothermal reserve equals to 2.854 million tons of coal, the official said.
A government source also said the province has planned seven projects to exploit geothermal resources for agriculture, fish farming, heating and health care. The projects need a total foreign investment of US$90 million.
The province has also made marked progress in using foreign capital to exploit geothermal resources in recent years.
Zhongjie Farm, based in Cangzhou, has built 28 hot water wells for aquaculture with foreign funds. The farm has a tilapia mossambica, an African carp, breeding base and a winter pool for prawns.
An official with the province's new energy development office said only one fifth of the province's geothermal resources were exploited and only 30 percent of the exploited resources had been used.
(Xinhua News Agency March 19, 2003)
