Hong Kong: River port operator CIG Yangtze Ports will start an HK$800 million second-phase expansion in central China by the end of this year.
CIG has an 85 percent stake in the two- berth Phase I of Wuhan International Terminal Port and is planning to take a 40 percent stake and develop four berths in Phase II, chairman Edward Chow Kong-fai said after the annual general meeting held in Hong Kong.
After the Phase II expansion is completed in 2010, Wuhan International Terminal's capacity will increase to 1.2 million teu.
It will be the largest port in western and central China, and will account for 80 percent of Wuhan's total throughput.
Phase I of the terminal moved 107,384 teu of goods in 2006, an increase of 82 percent from 59,098 teu in 2005, according to CIG's annual report. [08/05/07]
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