(MENAFN) The Austrian state of Upper Austria is to invest nearly USD2 billion this year, Xinhua reported.
The financial crisis had been largely contained in Austria in recent years, but the large investment is necessary for sustained growth.
The funding is will flow into areas such as construction of new retirement homes, the renovation of power plants, transport, social welfare , expansion of tourism infrastructure, and renovation and construction of municipal buildings.
Energy firm Energie will have USD335 million to invest in network expansion and the modernization of power plants.
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