The Shaying River Channel Dredging Project
Anhui province, China
Opening-up to cooperate; investment attraction
|PROJECT COMPLETION/EXPECTED COMPLETION DATE|
Anhui Port & Shipping Construction Investment Group (hereafter referred to as “the Group”) worked to dredge the Shaying River channel. To address insufficient funds and in line with the principle of “opening-up to cooperate in water transport”, this project, with the participation of various parties, is jointly funded by the special funds from central government and the financial subsidies from provincial government. The Group obtained a 100-million-USD project loan from the World Bank for the dredging project, making it the first-ever water transport project in Anhui province to use the World Bank project loan.
Anhui province will speed up dredging projects in Huaihe River’s mainstream channel, the Kuaihe River channel and the Shuiyang River channel this year. The government is scheduled to complete construction of the Kuaihe River/Nanping ship lock and the Wuhe second ship lock, and launch two new dredging projects in the Bianhe River channel and the Wohe River channel. During the construction, the Group strived to attract all kinds of investment by offering equity shares. Strategic investors, publicly listed companies, municipal and county-level State Owned Enterprises, private enterprises and so forth have been introduced either as investors or shareholders, so as to bring in more waterborne transport infrastructure investment.
The World Bank
At present, the construction is completed.
This project, jointly funded by the special funds from central government and the financial subsidies from provincial government, also attracts investment from multiple sources. As a borrower, the project owners can also obtain expertise and management experience from its lender, the World Bank, thereby improving the use of loans and enhancing repayment ability.