Shanghai will soon start the fourth phase of expansion at Yangshan Port, a project estimated to cost more than US$1.5 billion that will increase the deepwater port’s handling capacity by 40%, the South China Morning Post reported. The expansion, set for completion in 2015, includes the development of new deepwater berths. It will have an annual capacity of four million 20-foot equipment units (teu). Last year, Yangshan Port – located on the Yangshan Islands, which are connected to the mainland by a 32-kilometer bridge – handled 10 million teus, exceeding its existing designed capacity of 9.3 million at its three completed phases. The expansion project is endorsed by Beijing, reinforcing Shanghai’s bid to become a global shipping center.