Qingdao port to double capacity

Qingdao port, the mainland's third largest port after Shanghai and Shenzhen, will spend US$3.2bn over the next five years to upgrade and double its capacity to 12m TEUs. The Qingado Transportation Committee is in talks with Singapore's SPS International and other foreign investors to finance the project. Qingdao needs to build at least three new berths each year to meet demand, officials said.