Zhuhai Jiuzhou Holdings Group obtained a loan of 446 million yuan ($70 million) from the Agricultural Development Bank of China Zhuhai Branch on July 16 to restore and develop quarry-devastated Sanjiao Island.

The policy-based loan will fund a demonstration project that is the first-of-its-kind in the country and will eventually cost 2.2 billion yuan ($344 million). The uninhabited island, site of a former gravel quarrying operation, will be turned into a "public service + tourism" destination.

The bank loan will enable some beach restoration and greenery enhancement by the end of this year. The completion date of the entire project is estimated to be 2022.

Signing ceremony of loan contract [Photo courtesy Zhuhai Daily]

The Agricultural Development Bank of China operates policy-based lending in line with national development requirements. It signed a cooperation framework agreement with Zhuhai Jiuzhou Holdings Group to fuel the tourism project following the country's first release of a real estate registration certificate for an uninhabited island. The deal is part of the enterprise's promotion of green ecological development and construction of port and shipping transportation.

Zhuhai Jiuzhou Holdings Blue Marine Tourism Development, a subsidiary of the borrower, is responsible for construction.

On restored terrain will be a leisure sports experience area, high-end leisure resort, and science education base to enhance public awareness of environmental protection and marine conservation.

Sanjiao Island, part of the Wanshan Archipelago, is 62 hectares in size and 20 km from southeastern Xiangzhou District of Zhuhai. Right at the geometric center of the Guangdong-Hong Kong-Macao Greater Bay Area, the island is about 20 minutes' ferry ride from Zhuhai and Macao. It takes 50 minutes to sail from the island to Hong Kong and Shenzhen.