Jun
5

China: Weifang Plans USD 1.6 Billion Worth Port Expansion

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS

USD 1.6 Billion for Weifang Port Expansion

Weifang Port is planning an expansion of its capacity with an investment worth approximately USD 1.6 Billion, reports SinoShip News Portal.

The plan is to build thirteen 5000- ton class berths and at least nineteen 20,000- ton class berths in the next three years. Speaking in the long-term, Weifang Port intends to raise its capacity to handle over 50 million metric tons (MT) of cargo per annum by 2017.

The decision on building up the Port’s capacity stems from a rising demand for shipping services in the region, sparked by Chinese economic development.

Weifang is located in the Shandong Province, which is the third biggest province in China in terms of economic size.

Source : http://worldmaritimenews.com