September 08, 2008

DP World invests in two Wenzhou terminals in China

It is reported that DP World will invest CNY 1.2 billion (USD162.48 million) in building two 50,000 tonne multi use terminals in the first phase of Yueqing Bay Port Area at Wenzhou in Zhejiang province of China.

As per report, DP World has signed a letter of intent with the municipal government of Wenzhou on December 10th 2007 for the port project and work on the project is expected to be started at the end of 2008 or early 2009.

The port area will have a deep water capability, integrating transport, harbor industries, logistics, shipbuilding and recreation. The first phase of Yueqing Bay Port Area project, with an area of 60.8 square kilometers, will involve the building of 43 berths with a capacity of 82 million tons, including 18 berths with each having a annual capacity of more than 50,000 tons.