Hubei to invest more in ports

Central China's Hubei province is planning to boost investment in its ports and waterways construction, in a bid to develop its logistics industry.

Investments in river channels projects, ports construction and waterways security will amount to 40.2 billion yuan ($6.4 billion) in the 12th Five Year Period (2011-15), up from about 10 billion yuan from 2006 to 2010, said an official with the Hubei provincial ports and shipment administration.

The Hubei provincial government also encouraged private capital to take part in the construction and management of the ports, though public investment will play a major role.

Analysts said the increased investment will help Hubei to transform itself into a competitive province in terms of logistics.

Hubei has the longest route of the Yangtze River, China's longest river.

"The cost of water transport is just one-tenth of that of land transport," said Zhang Peilin, a transportation professor at the Wuhan University of Technology. "Development of the sector is imperative considering the rising oil prices."