China earmarks US$7.1 billion for expansion of Port of Dandong
Investment to increase ports' capacity to 100 million tonnes over the next five years
China has earmarked $7.1 billion to expand the Port of Dandong over the next five years, increasing the ports annual capacity from 60 million to 100 million tonnes.
It is hoped that the funds will cement Dandong Port as the key transport hub in the Northeast Asia region connecting the Korean Peninsula with Eurasia, according to Chinese news agency Xinhua.
The Yellow Sea port, located in the Liaoning Province, currently has 26 operational berths, and has links to over 70 ports and 50 countries throughout the world, providing integrated sea and rail routes that cover China, Russia, Mongolia, the Democratic People's Republic of Korea, the Republic of Korea and Japan.
In the first quarter of 2011 Dandong Port handled 117,000 TEU, representing an 84.4 percent rise over the same period the previous year.
This year, China has already invested $1.75 billion into updating the ports infrastructure, according to the Liaoning Province transport authorities.
Staff Writer: Linton Nightingale