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News

Hubei steps up port investment

7 November 2012
Hubei province in central China is increasing its spending in ports and waterways projects, reported China Daily.

Investment in river channel projects, port construction and waterways security will total Rmb40.2bn in the current five-year plan (2011-15), up from about Rmb10bn in the last period from 2006 to 2010, said an official with Hubei provincial ports and shipment administration.

The provincial government is also encouraging private investors to take part in the construction and management of ports.

“The cost of water transport is just one-tenth of that of land transport,” said Zhang Peilin, a transportation professor at Wuhan University of Technology. “Development of the sector is imperative considering rising oil prices.”

     
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