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September 17, 2009

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Certification for Yangshan port

THE northern section of Yangshan Deep-water Port has received national certification after an inspection, Ministry of Transport officials said yesterday. The certification means the project meets national standards.

Phase 3B of the project cost a total of 15.7 billion yuan (US$2.3 billion) and was put into trial operation last December.

"The northern section of Yangshan port will significantly improve shipping services in Shanghai," said Xu Zuyuan, vice minister of transport.

Yangshan Deep-water Port now has 16 berths for container ships and is capable of handling 9.3 million twenty-foot equivalent units per year.

The planning and design of the western section of the port is ongoing and Shanghai Tongsheng Investment Group, developer of Yangshan port, said it may submit blueprints for the project to government authorities in this year's fourth quarter.

Meanwhile, the group also said that the renovation of five inland waterways in Shanghai will be completed by the end of this year.

The renovations will allow ships weighing more than 10 million tons to use the waterways, according to Liu Zuoliang, chairman of Shanghai Tongsheng Investment Group.

The State Council gave approval at the end of April for Shanghai to be built into a major international financial center and shipping hub by 2020.

Tax rebates and other favorable policies are expected to be available for shipping companies registered at the bonded port.


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