Guangzhou Port has announced a plan to develop a new terminal at its Xinsha port area and a new car terminal at Nansha port area.
The port operator will invest RMB1.863bn ($280m) for the construction of two 70,000 dwt berths and two grain warehouses with total capacity of 148,000 tons. The terminal will have a designed cargo handling capacity of 14.05m tons each year. Construction of the project will start in 2018 and is expected to be completed in 2020.
Guangzhou Port expects the new grain terminal will meet the growing grain shipping demand in the hinterland region.
Additionally, Guangzhou Port has acquired a 60% equity stake in Guangzhou Coast Port Invest & Management Company for RMB150m ($22m) via a joint operations agreement. Guangzhou Coast Port Invest & Management Company will use the new investment fund to develop two breakbulk/roro berths with annual handling capacity of 100,000 vehicles.
Guangzhou Port completed its IPO on Shanghai Stock Exchange at the end of March. The company intended to use the proceeds from the IPO for the development of new port infrastructure.
