COSCO signs Nanjing box terminal venture

COSCO signs Nanjing box terminal venture    COSCO Pacific Ltd., Nanjing Port Authority, Nanjing Port Co. Ltd., Shanghai Port Container Co. Ltd. and Shanghai Port Container (Macau) Co. Ltd. have signed joint venture contracts to build and operate a container terminal at the port of Nanjing, located in the Yangtze River Delta.
   The joint venture company, Nanjing Longtan Container Terminal Co., which will manage and operate the Longtan container terminal, has a total investment of RMB820 million ($99 million) and a registered capital of RMB474 million ($57 million). COSCO Pacific said it will invest RMB168 million ($20.3 million) for a 20 percent share of equity interest in the joint venture.
   The Longtan terminal will have 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.