Yangshan CT Phase 3 investors announced

Shanghai: Shanghai Port authorities have announced the list of investors for Phase 3 of the Yangshan Container Terminal development project scheduled to begin in December 2007. China Shipping and Singapore based PSA are each to finance 30% of the 9bn yuan ($1bn) needed for the development of seven berths with a total pier length of 2,600 metres. Additional investors are Shanghai International Port Group (who will supply 20% of the total investment), COSCO Group (10%) and CMA-CGM (10%). PSA is a new investor in the Yangshan project unlike China Shipping, which was involved in Phase 2 of the development. Under the new phase, berths at the container terminal will boast a five million teu annual handling capacity.  [07/02/07]