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¢ñ. Project Name: Tourist Development of Dalonghu Lake Resort in Shanglin County
¢ò. Industrial Category: Trade and Service
¢ó. Type of Construction: New construction project
¢ô. Construction Period: 2 years.
¢õ. Construction Scope and Scale
The total investment for the development of the Dalonghu Lake Resort is expected to reach about 26 million RMB Yuan. The total area of the resort is 45k©O. The planned scope of the project construction includes the following: water recreational zone (with estimated investment of 3.13 million Yuan, excluding land acquisition fees and other expenses, the same is true for the following items), folk-custom zone (with an estimated investment of 1.18 million Yuan), agro-tourist zone (with an estimated investment of 0.66 million Yuan), headwaters scenery zone (with an estimated investment of 0.57 million Yuan) and infrastructure construction (with an estimated investment of 15.16 million Yuan). The expected reception capacity of the project will reach 300 thousand person-times annually.
¢ö. Project Site: Dalonghu Lake Resort, Xiyan Township, Shanglin County, Nanning
¢÷. Construction Conditions
Shanglin County has very convenient traffic facilities, accessible to Nanning by expressway or first class highway. The Chongqing-Zhanjiang Expressway under construction passes by the county. There are complete communications facilities for the county and there is a 10kv power line near the reception service area of the project. The asphalt road project, which is 14km in length connecting the county seat of Shanglin County and Dalonghu Lake Resort with a total investment of over 2.90 million Yuan, has been completed and open to public traffic. Such basic facilities as water and power supply and communications are available.
¢ø. Total Investment and Capital Composition: The total project investment is about 26 million RMB Yuan. It consists of construction investment, interests in the construction period and circulation capital, etc.
¢ù. Capital Source: It is planned to introduce an amount of 25 million Yuan and to self raise one million Yuan.
¢ú. Pattern of Cooperation: Development by sole investment, operation and management.
¢û. Analysis on Market and Anticipated Economic Benefits
¢¡. Analysis on Market
Shanglin County is situated in the middle of Guangxi with outstanding geographical advantages which have provided a guarantee for the tourist source market for the development of Dalonghu Lake Resort. On the one hand, it is only 132km away from Nanning to the south and 186km away from Liuzhou to the north. It is an ideal distance for tourists. On the other hand, Shanglin County is located alongside the golden tourist belt of Guilin-Liuzhou-Nanning-Beihai in Guangxi. Therefore foreign and domestic tourists from outside of Guangxi are potential visitors to Dalonghu Lake Resort. Dalonghu Lake has a vast water surface dotted with numerous islands with beautiful scenery and agreeable climate. It can be developed into various water recreational projects and holiday resorts. At present, there is still a lack of such kind of resort in and around such large cities as Liuzhou and Nanning. The development of Dalonghu Lake Resort is just in time to bridge this gap. Therefore it has a huge market potential.
¢¢. Anticipated Economic Benefits
£¨¢¡£©Internal Rate of Return: 19.79% before income tax and 15.21% after income tax.
£¨¢¢£©Financial Net Present Value: 14.726 million Yuan before income tax and 10.69 million Yuan after income tax.
£¨¢££©Investment Recovery Period: 6.51 years before income tax and 7 years after income tax, both including the two years of construction period. The investment profit margin is 17.83%.
The calculated financial indicators have shown that its financial internal rate of return (after tax) is 15.21%, which is higher than the base earnings ratio. This means that the project can bring about better economic benefits. Meanwhile the project is also highly risk-resistant. Although the project benefit is relatively sensitive to the changes in operation prices, the internal rate of return remains above the set base earnings ratio when the operation price drops by 10%. Therefore various economic indictors show that the project can yield better economic benefits with certain capacity to resist risks. It is financially feasible.
¢ü. Progress of Preparation Work: The Feasibility Study Report has been completed.
XIII. Project Competitive Advantages
¢¡. Low cost for land utilization: The county will lower the cost for the land use for the project and the local government will charge no additional fees except those stipulated by national laws such as farming land reclamation fee and management fees for acquired land, etc.
¢¢. The project is entitled to related preferential policies.
XIV. Project Owner
Shanglin Tourism Bureau is an administration department in charge of the tourist industry of the whole county, taking charge of all the tourist projects.
XV. Contact
Contact Person: Fan Huilin
Address: Shanglin Tourism Bureau
Tel./Fax: 0771£5226796
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