Shenzhen is to invest Yn31.6bn over the next three years to develop its logistics industry, identified by the government as a pillar sector of the future. A priority is to build a mail processing centre and six logistics industrial parks. Three of these would be international in scope, while the others would serve as regional […]
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Container traffic at Shenzhen's ports is expected to grow by 20 per cent in 2002 to 6m teu, said Zhou Tianlin, director of the municipal port bureau. Throughput at Chi- wan is forecast to increase by 50-60 per cent, while Yantian has already reached full capacity, recording a 56 per cent increase to 1.77m teu […]
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Majority foreign ownership approved
The first top-level government approval for majority foreign ownership of a port project has been granted, said Maritime Asia. The Ministry of Communications has given approval to Pacific Ports to take a 60 per cent stake in two berths in Xiamen, in return for a Yn500m investment. Although Pacific Ports holds majority stakes in other […]
A consortium of 10 domestic banks is to extend a Yn17bn credit line for the building of the Yangshan deepwater port near Shanghai. With financing in place, construction of the project was due begin at the end of July. The first phase alone, expected to be completed in 2005, will cost Yn14.31bn. It will involve […]
Luliang oilfield has become the third field in the Junggar Basin in the far west of the country to produce more than 1m tons of crude oil a year, according to officials at the Xinjiang Oilfield Co. Daily production at Luliang has increased from 1,000 tons in June last year to the present 3,000 tons. […]