China to inject $5.57bn in Yangtze River dredging project

China will spend more than CNY36 billion (US$5.57 billion) in the coming five years on Yangtze River dredging and navigation upgrades, Xinhua reports citing CHINA's Vice Minister

of Transport Xu Zuyuan statement. This will bring the river to a new phase of rapid development.
Mr Xu said China had invested over CNY80 billion in traffic development projects over the last five years, having upgraded navigational channels, ports, shipping capacity, security and sundry shipping services.
Yangtze River is the only waterway that runs through the east, central and west China. But its navigation facilities have not been catching up with the development of the river.
During the recent years, cities along the river are becoming increasingly aware of the advantages of water transport, which is environmentally friendly and inexpensive and are devoting more efforts to upgrade related waterways.
Jiangsu provincial deputy governor Shi Heping said his province has been spending CNY500 million a year on Yangtze projects since 2007 and has set up a mechanism of joint conference for cities along the river to discuss river development.
Source: Shippingonline