Shanghai International Port Group (SIPG) has announced its plans to develop a new container terminal at the Yangshan Deep Water Port in Zhejiang province.
SIPG aims to invest US$7.2 billion in the new box facility, which is expected to have a total annual throughput capacity of 11.6 million TEU, seven 70,000-ton, and 15 20,000-ton container berths.
The construction of the new terminal is anticipated to begin at the end of October 2022 and the project is expected to be ready in the next eight years.
Earlier in September, a new empty container transportation center commenced operations at the major port in China, having an annual box capacity of 3 million TEU.
