China Merchants will add 29 new berths to its terminal business from 2008 to 2010, which follows the completion of nine container berths by China's big port operator in 2007, Xinhua reported, quoting vice general manager of China Merchants Group Hu Jianhua.
The 29 berths to be completed by 2010 include 25 container berths in western Shenzhen, Zhangzhou, Qingdao, Tianjin, Shanghai and Ningbo, the Xinhua report said.
China Merchants will also invest in new berths in Zhanjiang port and new terminals in Vietnam's Ba Ria -Vung Tau, which are not included in the 29 berths mentioned above, the report said.
In 2008, China Merchants will inject CNY800 million (US$112.49 million) in berth construction and 40 per cent of the investment will be used in new berths, the report said.
China Merchants acquired 45 per cent stake in West Guangdong's Zhanjiang Port Group, which is planning an IPO in 2009.
Investing in Zhanjiang port gives China Merchants a strong footing in the Southwest China port cluster and now the port operator has had a terminal business network covering all of the five major port clusters in China, the report said.
The southwest China port cluster will see strong growth in the future as China boosts trade with the ASEAN countries, a China Merchants official said.
Zhangjiang port and ports in Guangxi are the nearest ports from China to southeast Asia and Europe and they will be the best import and export gateways for trade between southwest China and southeast Asia and Europe, the official added.
The 29 berths to be completed by 2010 include 25 container berths in western Shenzhen, Zhangzhou, Qingdao, Tianjin, Shanghai and Ningbo, the Xinhua report said.
China Merchants will also invest in new berths in Zhanjiang port and new terminals in Vietnam's Ba Ria -Vung Tau, which are not included in the 29 berths mentioned above, the report said.
In 2008, China Merchants will inject CNY800 million (US$112.49 million) in berth construction and 40 per cent of the investment will be used in new berths, the report said.
China Merchants acquired 45 per cent stake in West Guangdong's Zhanjiang Port Group, which is planning an IPO in 2009.
Investing in Zhanjiang port gives China Merchants a strong footing in the Southwest China port cluster and now the port operator has had a terminal business network covering all of the five major port clusters in China, the report said.
The southwest China port cluster will see strong growth in the future as China boosts trade with the ASEAN countries, a China Merchants official said.
Zhangjiang port and ports in Guangxi are the nearest ports from China to southeast Asia and Europe and they will be the best import and export gateways for trade between southwest China and southeast Asia and Europe, the official added.