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ADB Loans in Pipeline for Highway Construction in Guangxi
Guangxi Zhuang Autonomous Region is expected to use US$200 million in loans from Asian Development Bank (ADB) to build a highway.
According to local sources, a nine-member delegation from ADB Monday concluded a 13-day inspection tour of the south China region which borders Vietnam and issued a preliminary evaluation report after discussing details about the grant of the loans.
The projected highway, with a total length of 177 kilometers, will start from Nanning, the regional capital, and end at Youyi Pass on the Sino-Vietnamese border.
The highway consists of a 136-kilometer expressway and a 41- kilometer highway. It is estimated to cost 3.5 billion yuan (US$422 million).
On completion, the highway will become a major land thoroughfare from China to Vietnam and Southeast Asia via Guangxi.
In the past five years, contracts worth US$658 million of overseas investment were signed to build infrastructure for transportation in Guangxi, said Huang Huaiwen, head of Guangxi Zhuang Autonomous Regional Bureau for Communications.
Major projects include the second-phase construction of a shipping center on Xijiang River, involving US$80 million worth of loans from the World Bank, and the construction of new berths for containers and sundry goods in Beihai, Qinzhou and Fangchenggang, all port cities in Guangxi, which also involves US$55 million worth of foreign governmental loans, according to Huang.
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