Yangshan decision on contractors by year end

The Shanghai municipal government will decide by year end how private companies participate in Yangshan Port Phase II development. Wharf (Holdings), Hutchison Whampoa, Cosco Pacific and Orient Overseas (International) are each bidding for a piece of the pie, according to Zhang Huimin, executive deputy general director of Shanghai Deepwater Port Construction, the agency in charge. Yangshan is projected to cost US$18 billion. Plans calls for the huge 52-berth facility to be fully operational in 2006.