NYK, the Japanese transportation company, states that it expects to be admitted as an investor in Phase 3B of the Yangshan Container Terminals, which is currently being developed by Shanghai International Port (Group) Co.
The Yangshan Container Terminals are being developed on the Da Xiao YanShan islands, 34 kilometers from Shanghai. The port project is expected to create 32 new container berths, which will boast an annual capacity of 25 million TEU by 2020, with the space to further raise the total container handling capacity to 35 million TEU at an unspecified date. The Phase 3B, expected to be finished by 2009, individually, will build three berths and reach an annual throughput of 1.8 million TEU. These container terminals are being developed through a joint venture between Dalian Port Container and China Shipping Group, called Dalian International Container Terminal. NYK has a 20 percent stake in the venture, expected to commence operations in April. NYK estimates its container handling volume for Shanghai will amount to over 500,000 TEU in 2007.
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