Core Viewpoint - The Henan provincial government issued special bonds amounting to 40 million yuan for the Yexian agricultural product cold chain logistics project, which has faced significant delays and has not yet commenced construction, raising concerns about the project's viability and fund allocation [1][10]. Group 1: Project Overview - The Yexian agricultural product cold chain logistics project is planned to cover an area of 24,577 square meters with a total construction area of 16,728 square meters, including facilities such as a quick-freezing cold storage of 6,240 square meters and a production workshop of 7,028 square meters [3][6]. - The project was expected to start in January 2023 and be completed by June 2024, with a total investment of 130 million yuan, funded by 60 million yuan from the fiscal budget and 70 million yuan from special bonds [3][9]. Group 2: Funding and Financial Implications - The special bonds issued for the project have a term of 30 years with an interest rate of 3%, and as of the end of 2024, the project has not generated any revenue due to the lack of construction [6][9]. - The expected income from the project, including rental income from cold storage and other facilities, was projected to cover the bond principal and interest by a factor of 1.22, but the current status raises concerns about the repayment of these bonds [10]. Group 3: Current Status and Concerns - The project has not commenced due to incomplete demolition of existing structures, which has halted progress [4][10]. - There are public concerns regarding the potential misallocation or idling of the 40 million yuan in special bond funds, as the project is critical for improving agricultural logistics and ensuring food safety in the region [10].