Beijing: Tianjin Dongjiang bonded port area's first phase of development, with a total investment of 12bn yuan, has been completed and has started operations, the Tianjin municipal government said. The first phase of the bonded port complex -- or free trade port zone -- includes six 100,000-ton container terminals with investment of 6.6bn yuan, the government said at a press briefing here. Total investment in the Dongjiang port area is expected to reach 22.6bn yuan, according to earlier state media reports. The Tianjin local government plan to construct 20 new container terminals with total annual capacity of 11m teu in the Dongjiang port area in the future. Tianjin Port (Group) Co Ltd, parent of listed firm Tianjin Port Co Ltd and the country's fourth-largest port operator, is one of the major investors in the bonded port complex.
Tianjin Port Group is expected to handle 300m tons of cargo and 7m teu this year. [11/12/07]
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