Dalian: Tianjin, a major port city in North China, will spend around RMB16bn ($2.56bn) to develop port infrastructure projects in an effort to support the development of the new Tianjin Free Trade Zone (FTZ), which was approved in December 2014.
The funds will be used for the construction of port terminals, navigation channel dredging projects and adding ancillary facilities.
The new Tianjin FTZ, which is expected to open officially in March, covers an area of 120 sq km, with the Tianjin Port part of the FTZ occupying a quarter of the area.
Tianjin Port completed an annual cargo throughput of 540m tons and container throughput of 14m teu in 2014.
