Port construction JVs allowed

Overseas companies will be allowed to invest in the second phase of construction of the Shanghai Yangshan Port through joint ventures with mainland companies. The first phase of construction is planned to be finished next year, after which construction of the second phase is scheduled to begin. Shanghai government officials said during the World Shipping Forum in Beijing that overseas firms will be allowed to hold controlling shares in the JVs. Required total investment for the 52-berth Yangshan Port is estimated to be US$18 billion.