DP World invests US$162.48 million in two Wenzhou terminals

Dubai's DP World will invest US$162.48 million in building two 50,000-tonne multi-use terminals in the first phase of Yueqing Bay Port Area in Wenzhou, Zhejiang province.

DP World signed a letter of intent with the municipal government of Wenzhou on December 10 for the port project. Work on the project is expected to be started at the end of 2008 or early 2009. The new terminals are expected to attract shipping companies to bring international services, ending Wenzhou's history without them. The first phase of Yueqing Bay Port Area project, with an area of 60.8 square kilometers, will involve the building of 43 berths with a capacity of 82 million tonnes, including 18 berths with each having a annual capacity of more than 50,000 tonnes. The port area will have a deep-water capability, integrating transport, harbour industries, logistics, shipbuilding and recreation.
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