Cosco Group is negotiating an expansion scheme in Jiangsu, according to a report in the Singapore-based China Knowledge agency.

The major mainland shipping company is said to be interested in taking a 55 per cent share in a CNY6.6 billion (US$862.07 million) expansion of the northern Jiangsu port, which involves the construction of 11 berths due to be completed by 2012, the deputy party secretary of Lianyungang Port Group Huang Cheng was quoted saying in the report.

Another major mainland shipping company, China Shipping Group, is reported to have a 55 per cent stake in five berths in Lianyungang, which are due to be completed next year, the report said.