China Merchant Holdings (International), the Hong Kong-listed port company, plans to invest up to US$38m to set up a logistics hub in the Pearl River delta port of Shekou, South China Morning Post said. The company, which holds a 32.5 per cent stake in Shekou Container Terminals 1, will build a logistics facility that will include more bonded warehousing and expanded customs facilities.
Shekou, which is part of Shenzhen, is undergoing a second-phase expansion in which China Merchants holds a 40 per cent stake. This could double annual throughput capacity to 1.6m teu when it opens in 2002.