COSCOs ambitious plans
Wei Jaifu, Chairman of COSCO Pacific Ltd, has highlighted the groups ambitious expansion plans in Chinas container handling sector which will see it raise annual handling capacity from 10.8mTEU to 36.5mTEU over the short-term.
In the port of Tianjin, serving the capital city of Beijing, COSCO Pacific, Tianjin Port and AP Moller will set up a container terminal by 2007 that will handle 2.1mTEU/year.
In Ningbo, south of Shanghai, COSCO Pacific and the Ningbo Port Group are to establish a joint venture that will manage and operate a container terminal that will eventually offer a 3.5m/year capacity. This is also scheduled to commence operations in 2007.
In the port of Nanjing, China’s largest inland port on the Yangtze River, a one million TEU/year facility will be established and at Nansha, the only deepwater port in Guangzhou in southern Guangdong province adjacent to Hong Kong, COSCO Pacific together with the Guangzhou Port Group will open a container terminal in 2006 that will offer an annual handling capacity of 4.2mTEU/year when fully developed.
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