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Home/City > News >
$200 Million Loan to Boost TGMLC Construction
2014-11-05 15:22:17

  According to Yichang Municipal Development and Reform Commission, the infrastructure project of Three Gorges Modern Logistics Center, applied by Yichang Hua Xin Transportation Construction Investment Co., Ltd as the project owner, has earned the approval of World Bank Loan Project 2015-2017 Planning with a loan period of 30 years and an amount of $200 million according to a circular issued by the National Development and Reform Commission and Ministry of Finance. The loan fund is mainly applied to the construction of Baiyang Port projects, including Baiyang Port operation areas, Baiyang Port Logistics Park, logistics information platform, and logistics collection and distribution channels, etc.

  The construction of the Three Gorges Modern Logistics Center has risen to the strategy for regional development as logistics is one of “Six Industries with the Gross Output Value over One Hundred Billion” in Yichang. With the support from Yichang Municipal Development and Reform Commission and financial and transportation departments, the project owner, Yichang Hua Xin Transportation Construction Investment Co., Ltd., actively seized the opportunities brought by the policy of building Yangtze River Economic Belt initiated by Central Government  through careful planning and scientific organization in accordance with the strategic plan of the municipal government to build a modern mega-city and the reality of the Three Gorges Hub Port and modern logistics industry. At the same time, it applied for World Bank loans in the name of the infrastructure projects of Three Gorges Modern Logistics Center. The project application started in August 2013 and was approved by the State Council in September 2014 with the strong support from Hubei Provincial Government and Yichang Municipal Governments as well as Yichang Municipal Development and Reform Commission, financial department and other departments.

  With a planning area of 3.2 square kilometers, planning shoreline of 2500 meters and a total investment of 6.5 billion yuan, Baiyang Port constitutes the core of the Three Gorges Hub Port, where 24 berths will be built to achieve the long-term annual throughput capacity of 25 million tons, one million TEUs and 400,000 commercial vehicles. The project will spur Yichang to gear up for the opportunities brought by the development of Yangtze River Economic Belt and the establishment of China (Shanghai) Pilot Free Trade Zone, better serve local industrial park and logistics industry, help to build an economic corridor with the gross output value over trillion along the Yangtze River, facilitate the transfer of the goods which need to cross Three Gorges Dam as well as the connected land-water transport in Northwest China, and eventually push the city forward in the process of growing into a mega-city. The project will spur Yichang to gear up for the opportunities brought by the development of Yangtze River Economic Belt and the establishment of China (Shanghai) Pilot Free Trade Zone, better serve local industrial park and logistics industry, help to build an economic corridor with the gross output value over trillion along the Yangtze River, facilitate the transfer of the goods which need to cross Three Gorges Dam as well as the connected land-water transport in Northwest China, and eventually push the city forward in the process of growing into a mega-city.  (Reporter: Yuan Man)