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Cosco leads the Chinese pack to invest in Kaohsiung

Cosco leads the Chinese pack to invest in Kaohsiung

Kaohsiung: Three major Chinese shipping companies plan to invest in the biggest Taiwanese port in Kaohsiung (pictured), a top port official said on Tuesday, as China and Taiwan forge closer trade ties.

China COSCO, China Shipping Container Lines Co Ltd and China Merchants Group plan to invest in Kaohsiung port in the south of the island.

"Cosco's plans are currently in the workings right now. They will have a more specific investment plan by the end of next year," Shieh Ming-hui, director-general of the Kaohsiung Harbour Bureau, told Reuters in an interview.

None of the three have said how much money it would invest or how big a project it sees in Kaohsiung, which is Taiwan's biggest port with annual capacity of up to 10 million teu.  [13/05/09]