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New World eyes $2.5b bridge plan

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Peggy Sito

NEW World Development may step up its infrastructure investment in the mainland with plans to construct a $2.5 billion bridge in Wuhan city.

The developer is also considering the opportunities involved in building the city's proposed second ring road of 92 kilometres.

So Ngok, director of New World Development (China) said: 'The company is studying the investment feasibility of the Third Yangtze River Bridge. But the decision will not be finalised until the study has been completed.' If the plan goes ahead, the investment cost of the project will reach about $2 billion to $2.5 billion, said Mr So.

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New World will be a substantial partner in the development, with the controlling shares owned by the Wuhan government.

The bridge is part of the Hubei capital's massive infrastructure scheme. It will be built across the Yangtze River with the aim of easing peak-hour traffic congestion.

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The bridge - its main portion will be 2,200 metres long - is to be built across the river between Hanyang district and Wuchang district.

It will be part of Wuhan's second ring road.

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