The Guangzhou Port Group (GPG) has invested in a new berth in the Nansha port area to create an an annual additional capacity of half a million TEU.
The estimated investment stands at 7.472 billion yuan ($1 billion) and is still subject to approval by the company’s general meeting of shareholders.
The new berth will be able to accommodate six inland container barges at a time and process 15.5 million tonnes of bulk and general cargo per year.
The berth will add to the four berths that were opened in November 2021 and June 2022.
The company made the announcement in a filing submitted to the Shanghai Stock Exchange.
The aim of the project is to bolster the economic and social development of the hinterland, speed up capacity building, improve the passing capacity of general and container terminals, and accelerate the development of the main port business.
The company has set up a wholly owned subsidiary with paid-up capital of around $210 million to invest in the construction and operation of the project.
The construction period of the project is expected to be three years.
According to GPG, this is part of the fourth phase of the modernisation project at the Port of Nansha, combining multimodal services related to sea, river, and railway transportation.