Fourth phase of development underway at Qingdao Qianwan

Shanghai: Work has beguin on the fourth and largest stage of development at Qingdao Qianwan Port. Eight berths, with an annual throughput of 6.4m teu, are to be built within five years. The terminal is jointly funded by Qingdao Port Group, A.P. Moller Maersk, Dubai Ports World and COSCO Group, involving a total investment of RMB6.9bn. After the expansion, Qingdao Port's designed annual throughput will increase to 16 million teu. Qingdao Port's throughput reached 7.7 million teu in 2006. 

Qingdao Port Group will be listed on the A-share market within 2007, and is now making preparations for the listing, said the President of the company during the construction commencement ceremony for the fourth phase.  [11/09/07]