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Guangzhou to Invest CNY27.3bn in Port Construction
POSTED: 2:08 p.m. EDT, March 18,2007

GUANGZHOU, Mar 15, 2007 (SinoCast via COMTEX) --Guangzhou will invest CNY 27.3 billion in port construction between 2006 and 2010, to realize a 10 million TEUs capacity.

90% of the investment will be put in the Port of Nansha, which will be built into a high-end international logistics dock. 46 berths will be built in the port during the five years.

Since its operation on September 28, 2004, the Nansha port has achieved a doubled growth every year. For example, it handled 1.08 million TEUs in 2005 and 2.41 million in 2006 with a more than 100% growth. The container operation will probably double the figure in 2006 this year.

Thanks to the good performance of the Nansha port, the Port of Guangzhou realized a total cargo throughput of 300 million tons in 2006 with a yearly 22.7% rise, and a total containers throughput of 6.6 million TEUs with a year-on-year 43.1% surge. The port rose to beome the fifth largest in the world last year from the 12th in 2001. It also attracted Maersk Sealand and COSCO to the base last year.

From:homeway.com
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