According to port operator, the Qingdao Port (Group), the expansion project is scheduled to add 6.4 million twenty-foot equivalent units (TEUs) of capacity per year.
Overall, this development is expected to boost the port's total container handling capacity to 16 million TEUs when it is completed within five years.
One company official has been quoted saying that Maersk unit APM Terminals BV. owns a 29% stake in the expansion project while DP World holds 20%.
The Qingdao Port (Group) holds 31% while the China Ocean Shipping (Group) Company - (COSCO) owns the remaining 20%, said the official.
According to port chairman Chang Dechuan, the Qingdao Port (Group) is currently in the process of an initial public offering scheduled for some time this year.
Overall, this development is expected to boost the port's total container handling capacity to 16 million TEUs when it is completed within five years.
One company official has been quoted saying that Maersk unit APM Terminals BV. owns a 29% stake in the expansion project while DP World holds 20%.
The Qingdao Port (Group) holds 31% while the China Ocean Shipping (Group) Company - (COSCO) owns the remaining 20%, said the official.
According to port chairman Chang Dechuan, the Qingdao Port (Group) is currently in the process of an initial public offering scheduled for some time this year.