Modern Terminals to build container terminal near Qingdao

Hong Kong-based Modern Terminals Limited has signed a CNY 8.5bn ($1.2bn) cooperation agreement with Dongjiakou Port Area of Qingdao Port to set up a container terminal project, reports SinoCast. The project will include construction of open sea terminals, a liquid bulk dock, a general bulk dock, a container terminal, and a logistics park. Upon completion of phase one by 2015, the complex is expected to boast an annual capacity of 20m tonnes. Dongjiakou is designed to feature a 100m tonne capacity in the long term, with 50 berths.