Hebei exceeds budget allotment with US$2.6 billion spent on port projects

CHINA's northern Hebei province has spent CNY16.24 billion (US$2.6 billion) on port projects between January and October, exceeding the province's annual budget allotment of CNY1.6 billion, Xinhua reports.

More than CNY11 billion was invested on Tangshan port, CNY4.3 billion on Huanghua, and CNY450 million on Qinhuangdao. In this period, 10 new berths were built at these ports, bringing an extra capacity of 120 million tonnes, far surpassing the annual target of five new berths and 50 million tonnes' capacity.

Hebei province now has more than 140 berths in operation with a capacity of 680 million tonnes.