Nanjing box terminal open for business

Nanjing box terminal open for business    COSCO Pacific Ltd. said the first phase of development has been completed at the Longtan container terminal at the Chinese port of Nanjing, located in the Yangtze River Delta, and operations officially commenced today.
   The terminal is operated by Nanjing Port Longtan Container Co., Ltd., a joint venture company established by COSCO Pacific, the Nanjing Port Authority, Nanjing Port Co. Ltd., Shanghai Port Container Co. Ltd. and Shanghai Port Container (Macau) Co. Ltd.
   The joint venture company has a total investment of RMB820 million ($99 million) and a registered capital of RMB474 million ($57 million). COSCO Pacific invested RMB168 million ($20.3 million) for a 20 percent share of equity interest in the joint venture.
   The Longtan terminal has five berths with a quay length of 910 meters (2,986 feet), a water depth of 12 meters (39 feet) and a container yard area of 930,000 square-meters. Its depot area is 208,000 square meters and the handling capacity will be 1 million TEUs, following development completion.