Singapore's PSA Corp confirmed that it has been in discussions to participate in the Yangshan port project near Shanghai. Shanghai Daily said that the world's top three port operators were interested in managing the facility but one of these companies, Hutchison Port Holdings, later said that it would first have to study the project more closely.
The first phase of the port will cost US$1.72bn and involves the construction of a 13km bridge, a 1.7 sq km man-made island and a coastal township, along with a 1.6km navigation channel capable of accommodating super-large container ships.