Daxie: a $529 million port venture
China Merchants and Citic Group announced willdevelop a new port in Daxie to capitalise on the long-term export growth potential in the Yangtze River region.
Analysts predicted a total investment of $529.1 million in the port, known as Port Zone C and located in Ningbo Daxie Development Zone. It will have a quay length of 1,600 metres and accommodate three or four container berths.
China Merchants will hold 20% of the joint venture, while Shanghai
Citic Port Investment will hold 41%. Ningbo Port will have 39%, according
to the website of China Merchants.
The port is adjacent to the China Merchants International Terminal Ningbo Daxie, 45% owned by China Merchants.
Source: CargoNews Asia