Guanxi to spend $1.3b on Beibu Gulf ports

11/7/2007 11:07:45 AM

Guangxi government plans to introduce private capital into port construction at Beibu Gulf (Gulf of Tonkin). Guangxi government may spend accumulated US$1.33 billion on port construction projects in Beibu Gulf, including Qinzhou, Beihai and Fangchenggang. According to its development plan, the cargo throughput at Beibu Gulf economic zone is expected to reach 100 million tonnes in 2010 and 300 million tonnes in 2020. China Shipping vice-president Zhang Guohua said many governments welcome private capital from enterprises such as Hutchison Whampoa in port construction. Senior vice-president for Regional Container Lines Public Company added private capital not only releases financial burden of governments, it also brings new technology and international experience to local port development. CargonewsAsia

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