Chinanews, Shanghai, Dec. 8 - Chen Muyuan, general manager of the Shanghai International Port Group (SIPG), said on Thursday that construction of the third phase of the Yangshan Port in Shanghai, which has just begun, has already attracted many foreign port companies and shipbuilders to make investment. He expressed warm welcome for foreign investors to bring their expertise and experiences in the third-phase construction of the Yangshan Port, saying that construction of the port might be based on joint ventures.

 

Due to the port’s excellent natural conditions and geographical location, foreign investors show great interest in participating in the project. The Shanghai Port Building Group finished the construction of the first phase of the Yangshan Port and construction of the second phase was completed jointly by several companies including the Hutchison Whampoa Limited, Maersk Line, China Ocean Shipping Group Company (COSCO), China Shipping Company, and SIPG.

 

The third phase of the port is located in the Zhonggang district in Xiaoyangshan. Seven berths will be built there, with a total investment of 10 billion yuan. The port will be put to use in 2010 which by then will be able to handle 4 million standard containers every year. At present, the pre-stage construction work has already started. Since many companies are interested in making investment in the project, construction of the third phase will introduce multiple investors, like the second phase, according to insiders.

 

So far, APM Terminals, Dubai Ports and some other world shipbuilders have expressed their intention of participating in the third-phase project, said Chen.