China Merchants Holdings International (CMHI) assistant general manager Geng Honghai has said the first berth of the CNY10 billion (US$1.46 billion) Qingdao Qianwan Logistics Park will be operational by year's end, Xinhua reported.
Citing a Shanghai Security News report, the news agency said the Qingdao Qianwan Logistics Park comprises of a terminal and a logistics facility, and that three berths would be open by the end of 2010.
The quay area, said the report, covers 1.65 square kilometres and the bonded logistics park covers one square kilometre. CMHI holds 90 per cent's share of the Qianwan Logistics Park while the Qingdao government holds 10 per cent.
The logistics park construction started last September. It has seven berths, five for container and two for bulk cargo ships with a total capacity of five million tonnes per year, and is expected to be able to bring an additional 500,000 TEU through Qingdao.
Citing a Shanghai Security News report, the news agency said the Qingdao Qianwan Logistics Park comprises of a terminal and a logistics facility, and that three berths would be open by the end of 2010.
The quay area, said the report, covers 1.65 square kilometres and the bonded logistics park covers one square kilometre. CMHI holds 90 per cent's share of the Qianwan Logistics Park while the Qingdao government holds 10 per cent.
The logistics park construction started last September. It has seven berths, five for container and two for bulk cargo ships with a total capacity of five million tonnes per year, and is expected to be able to bring an additional 500,000 TEU through Qingdao.