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Qingdao Port plans CNY 7bn investment boost in 2011

Qingdao Port plans CNY 7bn investment boost in 2011

Shanghai:  Qingdao Port, China's second largest foreign trade port, plans to triple its total investment to CNY 10bn in 2011 from CNY 3bn this year, writes China Knowledge. So far this year, the port has spent around CNY 3bn to build a dock for iron ore with a maximum capacity of 300,000 tons. Next year, it will build two 200,000 ton docks for coal and a 300,000 ton dock for crude oil. Qingdao Port is also considering building a 400,000 ton dock for bulk freighters next year.

Wang Baosheng deputy director of the group's business department said the port is expected to surpass South Korea Busan Port to be the leading port by throughput in Northeast Asia in one or two years.

In 2010, Qingdao Port aims to have a container throughput of more than 12m TEU and its total throughput may exceed 350m tons.  [15/11/10]