WB-Financed Navigation Project ApprovedThe Chinese government has approved the construction of a 1.8 billion-yuan (217 million US dollars) project designed to improve the navigation conditions along the Xiangjiang River in central China's Hunan Province, a tributary of the Yangtze River, local officials said Tuesday.The World Bank will provide a loan of 100 million US dollars to support the project, which includes the expansion of the 37-km navigation route linking up the two major cities of Zhuzhou and Xiangtan in the province, and the building of a berth with an annual handling capability of more than 1,000 deadweight tons in Hengshan County. Construction is expected to begin later this year and be completed in 2006, when the shipping conditions along the Xiangjiang River will be greatly improved. |
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