Wharf gets terminal go-ahead

Wharf Holdings' Modern Terminals Ltd (MTL) unit said it got government approval for its US$845m Shenzhen container terminal project, the South China Morning Post reported. Hong Kong-based MTL holds a 65% stake in the Dachan Bay project, the Shenzhen municipal government 35%. Phase 1, scheduled for completion in 2007, calls for five berths with a projected annual capacity of 2.5m 20-foot-equivalent units (TEUs). MTL's full four-phase plan calls for 20 berths.