Shandong
Yantai Port Stock starts to operate
Updated: 2010-01-18 16:41
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With a total investment of 5.1 billion yuan and a registered capital of 3.366 billion yuan, Yantai Port Stock held its opening ceremony and began operation on January 16, 2010.
The company is jointly established by Yantai Port Group, Baosteel Group, China Shipping Investment and China Shipping Terminal Development, of which, China Shipping (Group) Company owns as well as State Development & Investment Corporation.
The proportion of shareholding is: Yantai Port Group accounts for 67.56 percent; Baosteel Group and its subsidiary—Baosteel Resource—account for 20 percent; China Shipping Investment and China Shipping Terminal Development account for 10 percent; State Development & Investment Corporation accounts for 2.44 percent. The diversification of the investors will bring in more fund and resources, in a bid to further enhance the core competitiveness of the Yantai Port.
Undertaking the existing business of Yantai Port Group and its relevant productive assets, Yantai Port Stock will become the main operator of four port districts, including the Zhifu Bay port district, West port district, Longkou port district and Penglai port district. It focuses on developing the business of container, passenger and freight Ro-Ro, and major bulks, including metal ores, coal and oil. It also sets to strengthen three industries, including the port industry, port-based industries and modern integrated logistics.
Yantai Port is home to 85 berths of all types, of which 42 deep-water berths are above ten-thousand-ton level. It is scheduled to complete cargo throughput of 123 million tons in 2009, an increase of 10.8 percent year on year.
The West Port district which is under construction plans to build 19km shoreline, 50-sq-km land area, 65 ten-thousand-ton level 5--30 docks and 8 factional areas, including container, liquid chemicals, bulk cargo, general miscellaneous bulk, crude oil, integrated logistics, strategic oil reserve bases and ship building and repair industry. It is committed to achieving the port handling capacity of 200 million tons and 15 million TEUs.
By Wang Qian (China Daily of Shandong Bureau)
Editor: Li Jing
