Hebei will need at least US$100 billion in investment to meet a growth target of 11 per cent a year between now and 2000, says deputy governor Cong Fukui. About 10 per cent would need to come from foreign investors, he said. This compared with used foreign investment of only $2.77 billion during the Eighth Five-Year plan (1990-1995). Mr Cong said most of the demand for foreign funds would be for basic infrastructure, including highways, power plants, the first development phase of Huanghua port and the fourth phase of Qinhuangdao port. Hebei planning commission deputy director Cao Mangui said discussions with foreign parties were under way for the Tianjin-Baoding, Tianjin-Tangshan and Xuanhua-Datong highways. The 60-kilometre first phase of the Shijiazhuang-Huanghua port highway also needs foreign funds. Mr Cao said the first phase of the Hengshui power plant had been completed and output would begin this year. Negotiations on investment in the project by the China Resources group were continuing, he said. Mr Cao said the $1.2 billion first phase of Dingqu power plant, near Baoding, had so far failed to attract a foreign partner despite months of negotiation. The Hebei government hoped to find a foreign partner to inject half of the required capital into the project, which was selected as a build-operate-transfer investment pilot for the province. Mr Cao said the huge capital involved, tariff and the rate of return had been the issues which prevented a deal from being closed. A delegation from Hebei is in Hong Kong for a trade fair which will offer 2,300 projects for co-operation with foreigners. They range from energy, transport and telecommunications to building materials and chemicals and metallurgy, and include 300 key projects worth more than $40 billion. Mr Cong said Hebei would be opened up to more co-operation with major corporations in the next few years. The target growth rate of 11 per cent was three percentage points higher than the national target and the province sought to reach a gross domestic product of 480 billion yuan (about HK$446.4 billion) by 2000.