AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 129.06 Decreased By ▼ -0.47 (-0.36%)
BOP 6.75 Increased By ▲ 0.07 (1.05%)
CNERGY 4.49 Decreased By ▼ -0.14 (-3.02%)
DCL 8.55 Decreased By ▼ -0.39 (-4.36%)
DFML 40.82 Decreased By ▼ -0.87 (-2.09%)
DGKC 80.96 Decreased By ▼ -2.81 (-3.35%)
FCCL 32.77 No Change ▼ 0.00 (0%)
FFBL 74.43 Decreased By ▼ -1.04 (-1.38%)
FFL 11.74 Increased By ▲ 0.27 (2.35%)
HUBC 109.58 Decreased By ▼ -0.97 (-0.88%)
HUMNL 13.75 Decreased By ▼ -0.81 (-5.56%)
KEL 5.31 Decreased By ▼ -0.08 (-1.48%)
KOSM 7.72 Decreased By ▼ -0.68 (-8.1%)
MLCF 38.60 Decreased By ▼ -1.19 (-2.99%)
NBP 63.51 Increased By ▲ 3.22 (5.34%)
OGDC 194.69 Decreased By ▼ -4.97 (-2.49%)
PAEL 25.71 Decreased By ▼ -0.94 (-3.53%)
PIBTL 7.39 Decreased By ▼ -0.27 (-3.52%)
PPL 155.45 Decreased By ▼ -2.47 (-1.56%)
PRL 25.79 Decreased By ▼ -0.94 (-3.52%)
PTC 17.50 Decreased By ▼ -0.96 (-5.2%)
SEARL 78.65 Decreased By ▼ -3.79 (-4.6%)
TELE 7.86 Decreased By ▼ -0.45 (-5.42%)
TOMCL 33.73 Decreased By ▼ -0.78 (-2.26%)
TPLP 8.40 Decreased By ▼ -0.66 (-7.28%)
TREET 16.27 Decreased By ▼ -1.20 (-6.87%)
TRG 58.22 Decreased By ▼ -3.10 (-5.06%)
UNITY 27.49 Increased By ▲ 0.06 (0.22%)
WTL 1.39 Increased By ▲ 0.01 (0.72%)
BR100 10,445 Increased By 38.5 (0.37%)
BR30 31,189 Decreased By -523.9 (-1.65%)
KSE100 97,798 Increased By 469.8 (0.48%)
KSE30 30,481 Increased By 288.3 (0.95%)

China is considering building another container terminal along its wealthy east coast partly with foreign investment, which could help alleviate nation-wide transport bottlenecks that have become an economic drag. Prosperous Zhejiang province is studying a container terminal in Jiaxing as part of its port and infrastructure expansion plans, an official with the Zhejiang Province Development and Reform Commission told Reuters on Tuesday. Jiaxing sits between the wealthy cities of Shanghai and Hangzhou, across a bay from Ningbo, a deep natural port.
Ningbo plans to spend $1.9 billion by 2010 to increase its deepwater berths to 30 from 20.
Asian tycoon Li Ka-shing's Hutchison Whampoa, shipper Orient Overseas (International) Ltd (OOIL) - controlled by the family of former Hong Kong chief executive Tung Chee-hwa - and Taiwan's Evergreen Marine Corp are among the foreign investors stumping up part of the cash.
"As part of the development of the Ningbo port, we will consider expanding nearby ports like Zhoushan and Taizhou, and we are studying a container terminal for Jiaxing," Wang Rongrong, associate director of the Commission's economic and trade bureau, told Reuters on the sidelines of a logistics seminar.
China's ports are racing to remove infrastructure bottlenecks in the world's third-biggest trading nation. Berthing delays of 20 to 30 days in some northern ports have impeded imports of iron ore and other raw materials needed to fuel an economy that expanded 9.5 percent in 2004.
The Jiaxing project still needs central government approval, Wang said, declining to comment on the size, cost or timeframe for completing the project.
"That's between the port and the investors," she said.
Zhejiang, a base for exporters, is co-ordinating with neighbouring Shanghai and Jiangsu Province on road and water transport, logistics and customs issues, Wang added.
"We have to break down unreasonable parochialism in order to develop," she said at the Yangtze River Delta Logistics conference in Shanghai.

Copyright Reuters, 2005

Comments

Comments are closed.