Contract Signed for the Qingdao New Qianwan Container Terminal Joint Venture

    With a collaboration of five partners from three countries, QQCTN will build the 3408m quay into 10 berths (four from Phase IV, another four from DP World and two from Pan Asia), and the deepest berth will reach -20 meters. The total investment will be around 1billion US dollars and the initial investment is US$ 420 million. QQCT has a equity share of 80%, and the rest goes to Pan Asia. The Phase IV construction was started on Sept. 8th this year, and four berths will be ready by the end of next year.

    The joint venture will integrate the 3400m quay under the operation of QQCT and the 3408m quay under the construction of QQCTN into one body. Among the total of 12859m quay around the Qianwan Bay, Qingdao Port operates 10181m or 79% including the container, iron ore, and crude oil facilities, occupying a remarkable leading position, which will prompt the port and marine economy of Qingdao and its construction of regional economic center and international shipping center in Northeast Asia, and contribute to the faster and better development of the city and the province.