Coastal Ports News
- Qingdao Port kicks off expansion
Date: 11-Sep-2007 Sources: (Shenzhen Daily)
QINGDAO Port (Group), China's third-largest container port operator, said yesterday it has started work on a 6.9 billion yuan (US$918 million) expansion project, which will add 6.4 million 20 foot equivalent units (TEUs) of annual capacity.
AP Moeller-Maersk's port arm APM Terminals holds a 29 percent share of the expansion project, which will boost the port's container capacity to 16 million TEUs when it is completed within five years, a company official said. DP World holds 20 percent of the project and Qingdao Port holds 31 percent, with COSCO, China's premier shipping group and parent of China COSCO Holdings Co., holding the remainder.
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