Chongqing Port Logistics Group and SDIC to jointly develop Guoyuan Port

Chongqing Port Logistics Group and SDIC to jointly develop Guoyuan Port

Shanghai: Chongqing Port Logistics Group and State Development & Investment Corporation (SDIC) have signed a strategic agreement to jointly develop port infrastructure in Chongqing Guoyuan Port along the upper reaches of the Yangtze River.

Under the agreement, the two companies will jointly spend RMB4.3bn ($686m) on a new port area for bulk shipping including developing a bulk shipping terminal and railway connections.

Chongqing Port Logistics Group said the cooperation with SDIC will help the port expand its business connections with other ports along the Yangtze River.

Currently SDIC has invested in several ports along Yangtze River including Zhangjiagang, Jingzhou and Yichang.

Guoyuan Port started operations in December 2013. It is currently developing an RMB2bn port logistics park project, which is expected to commence operations in 2015.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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