YICHANG - A protest staged by retired workers with a central China water project contractor entered its fifth day on Friday, and the company has yet to reach an agreement with the protestors, who complained that they have been unfairly treated.    

Former employees of the Gezhouba Group, a major contractor for the Three Gorges Project, blocked traffic in the city of Yichang, Hubei province, demanding hikes in their pension payments.

The retirees complained that their pension payments had not been calculated fairly. Sources with the company said employees who retired before 2006 receive a monthly payment of around 1,500 yuan ($238), while those who retired after 2006 enjoy a monthly payment of over 3,000 yuan.

The protestors, mostly aged between 60 and 70, have also complained about unreasonable terms in the company's medical care policy and excessive water and electricity fees charged by the company.

Gezhouba Group held a meeting Thursday, and invited 60 representatives for the retired workers to engage in talks.

The representatives demanded that pension subsidies agreed upon by the company on Monday be given to them in March.

However, the company insisted that the money could be delivered before the end of July.

Jing Yanzhang, general manager of Gezhouba Group, said the company will do its best to meet the retired workers' reasonable demands.

"But it is very hard to solve all the problems raised by the retirees before the end of March," Jing said, noting that there are more than 35,000 retirees.

Headquartered in Yichang, the Gezhouba Group was the sole contractor of the Gezhouba Project, which built the first dam on the Yangtze River.