China Merchants to build port in Shenzhen

Mainland port operator China Merchants Holdings plans to develop a multi-purpose port at Ma Wan port zone in western Shenzhen. The company said the first of five berths will be built at a cost of $92.9 million.

The port operator also runs terminals in Shekou and Chiwan. In the first half of the year, its ports in western Shenzhen handled 4.98 million TEU where a TEU is a standard sized container.

Talking of the future the president of the company Fu Yuning did not rule out the possibility of acquiring overseas ports jointly with Shanghai International Port, in which it has a 26.5% stake.

In April, China Merchants Group, parent of the Hong Kong-listed unit, joined with Vietnam National Shipping Lines to build and operate Ben Ding Sao Mai Seaport and ancillary projects. The project was the firm’s first investment outside China.