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COSCO SHIPPING Ports Limited
COSCO SHIPPING Ports Limited

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Opening ceremony and construction of new container berth of Quanzhou Pacific Container Terminal Co., Ltd.

Date:2006-08-28     Publish:本站

Opening Ceremony and Construction of New Container Berth of Quanzhou Pacific Container Terminal Co., Ltd.
 

An opening ceremony of the establishment of Quanzhou Pacific Container Terminal Co., Ltd. ("Quanzhou Pacific Terminal Company" or "Joint Venture Company") and the commencement of construction of new container berth 4# in Shihu area were held in Quanzhou on 28th August 2006.

Dr. WEI Jiafu, President and CEO of China Ocean Shipping (Group) Company, Mr. ZHANG Fusheng, Executive Vice President of China Ocean Shipping (Group) Company, Mr. MA Zehua, Vice President of China Ocean Shipping (Group) Company, Mr. ZHENG Dao Xi, Party Secretary of Quanzhou City, Ms. ZHU Ming, Mayor of Quanzhou City, Dr. SUN Jiakang, Vice Chairman and Managing Director of COSCO Pacific Limited ("COSCO Pacific"or the "Company"), witnessed the ceremony together with honourable guests from representatives of Quanzhou City Municipal Government, banking, logistics and shipping industries.

COSCO Pacific entered into a joint venture contract with Quanzhou Port Container Co., Ltd. for setting up Quanzhou Pacific Terminal Company on 8 August 2006. The total investment is approximately US$99 million. COSCO Pacific owns 71.43% equity interest of the Joint Venture Company and Quanzhou Port Container Co., Ltd. holds 28.57% equity interest.

The container terminal is currently equipped with a designed capacity of 1 million TEUs. It has a total yard area of about 280,000 square meters, quay length of 970 meters and water depth alongside with a maximum of 15.1 meters. There are five container terminal berths in Shihu area at Quanzhou Port. Four berths of 0#, 1#, 2# and 3# are in operation and the new berth 4# will be capable to handle large vessels of 100,000 DWT. Upon completion of the new container berth and commencement of operation in 2008, total handling capacity of the 5 berths will be expanded to 2 million TEUs. Besides, a new multi-purpose berth in Xiutu area at Quanzhou Port, which will be capable of handling vessels of 50,000 DWT, will commence operation by 2008.