Eyes US$1b Jiangsu port - ResearchInChina
Date:2007-07-25
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CHINA Ocean Shipping (Group) Co (stock code: 600428) may invest in a US$1 billion port project in the country's eastern Jiangsu Province, Shanghai Securities News said, citing unidentified sources. Cosco and the Jiangsu government may build 11 container berths with a total annual capacity of six million 20-foot containers in Lianyungang, the Chinese-language newspaper said.
Cosco has invested more than 10 billion yuan (US$1.3 billion) in ports in Jiangsu province, the newspaper said. The company is the parent of China Cosco Holdings Co, Asia's largest container line, and of Cosco Pacific Ltd, Asia's third-largest container terminal operator.
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