Port investment boom continues this year with billions spent China-wide

Time:2011-08-02 Browse:49 Author:RISINGSUN

CHINESE port investment will continue to thrive throughout the country this year, according to the China Federation of Logistics and Purchasing (CFLP), reports Xinhua.

Jiangsu-based Dafeng Port Group entered strategic partnership with Hong Kong`s Birmingham International Holdings, according to the CFLP report. The two set up an investment fund to promote the Port of Dafeng`s plan to be publicly listed.


Another port, Shouguang in Shandong province, is under phase 1 construction, which started in March. After completion, it will have an annual throughput of 15 million tonnes. Long-term development is aimed at raising throughput to 50 million tonnes with a quay length at the port of 8,000 metres and a back up area of 666.7 hectares.


On the other hand, eastern Chinese port operators, such as the Weizhou Port Group, Shanghai International Port Group and Ningbo Port Group, plan to jointly invest CNY1 billion (US$155.3 million) in developing Wenzhou Port into a harbour with a million TEU annual throughput.


Meanwhile, Ningbo will spend CNY4.5 billion on expansion to increase throughput to two million TEU and overall cargo volume to 366 million tonnes. Northwestern Liaoning province plans to develop six major ports and raise total throughput to 1.1 billion tonnes. The shipyard centre in southwestern China`s Beibu Gulf port cluster in Beihai province will receive CNY1.16 billion to construct three 10,000-tonne terminals with a capacity of two million tonnes.


Central China`s Port of Wuhan also plans to launch a total of 111 projects during the national Five-Year Plan period from 2011 to 2015, entailing a sum of CNY17.66 billion. By the end of this period, the port will have a box throughput of two million TEU and an overall cargo volume of 200 million tonnes.