Yangshan Port takes in huge investment
14/7/2003 15:11
The first phase of the construction project of the Yangshan Deep-water
Port has taken in an investment of 3.5 billion yuan, one-quarter of its total
input for the phase, the local government announced at an annivesary ceremony on
Saturday.
With the investment in place, the construction of the East China
Sea Bridge and the five port berths, two main structures of the deep-water port,
will soon get in full gear.
The first phase of the project is scheduled to
take in a total investments of 14.3 billion yuan on completion, 7.2 billion yuan
for the bridge and 7.11 billion yuan for the port berths and other auxiliary
parts.
Currently, more than 20 foreign dock operators and feight companies
are in talks with local government about future investment plans for the port
project's first phase, which needs 10.8 billion yuan more to
finish.
According to Zhang Huiming, a senior official of local government,
conversation with these foreign investors will end next year to decide how to
assign the rest investment scheme.
Previous reports estimated that foreign
input won't surpass 49 percent in the port project, but Zhang alluded that
whether the threshold will be 25 percent or 75 percent still depends on the
progress of the conversation.
High return of the port project might have
prompted the brisk investment mood among the foreign companies, analysts
said.
Six to seven percent in yield is expected on completion of the first
phase, according to Zhang.
Vicky Xu / Shanghai Daily news
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