Joint venture established to manage Ningbo terminal

Joint venture established to manage Ningbo terminal    Four partners today entered into a joint venture agreement to manage and operate the 400,000-TEU capacity Berth 7 of Beilun Terminal Phase 4 in the Chinese port of Ningbo.
   Ningbo Port Group Ltd. will own 50 percent of the joint venture, with COSCO Pacific subsidiary COSCO Ports (Ningbo Beilun) Ltd. having 20 percent. OOCL Terminal (Ningbo) Ltd. will also have 20 percent ownership while SDIC Communications Co. have a 10 percent share. The same partners are involved in the construction of the new terminal which is expected to start operations in the last quarter of this year.
   According to COSCO Pacific, the total investment in the new joint venture company is approximately $97 million.
   Beilun Terminal Phase 4 has a total site area of about 150,000 square meters. Its quay length is 310 meters with a depth alongside of 15 meters.