CSX World Terminals Yantai, a 50:50 JV with a total investment of US$99.16 million, was set up between US port operator CSX World Terminals and the Yantai Port Authority to manage and upgrade Yantai Port in Shandong province.
The company hopes to increase annual container handling capacity to one million TEUs (20-feet equivalent units) by 2007 from an expected 260,000 TEUs in 2003.
CSXWT currently operates 17 terminals and related businesses globally and in China it has established JVs in Tianjin, Shanghai, Shenzhen, Xiamen and plans to do so in Qingdao.