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China Merchants plans for Qianhaiwan Bonded Port Area phase two
CHINA Merchants Group is planning for the development of Shenzhen's Qianhaiwan Bonded Port Area's phase two project after the phase one recently passed the official inspection, Logistics Week reported.
CHINA Merchants executive director Yu Liming said the lingering impact of the downturn has not affected the development of the port area. The group is to invest CNY1 billion (US$146 million) on the phase two of the project, but has not yet decided on its scale.
Investment in phase two will be less than on phase 1, Mr Yu said, adding that the group will focus on distribution and warehousing facilities in the new project. There are currently 150,000 square kilometres' warehousing space at the port area and will be expanded to 500,000 square kilometres in two to three years. The group will mainly invest the expansion.
The Qianhaiwan Bonded Port Area covers a total area of 3.7 square kilometres. The first phase is 1.17 square kilometres, comprising Mawan Port Area's #5, #6, #7 berth and the bonded logistics operations area, which are 1.5 kilometres apart from each other. A special restricted route will be built by 2010 to connect the two areas.
Group's vice manager of business development Hu Yong said the group's future expansion after completion of the first phase will proceed towards the port areas to the south of the bonded logistics operations area and to the undeveloped area at the east.
As the bonded port area has become operational, Shenzhen is building a dedicated traffic system for the western port area's cargo distribution connecting the main roads in the region, separating trucks from other vehicles. The facility will open by the end of next year.
The Qianhaiwan Bonded Port Area's function is not as comprehensive as Hong Kong's free port, said Mr Yu. But as ties between Hong Kong and Pearl River Delta are growing closer, if Hong Kong can strengthen its cooperation with Qianhaiwan, the two can complement each other with their strengths. Mr Yu noted that Guangzhou's Nansha Port Area is more of a rival than Hong Kong.
CHINA Merchants executive director Yu Liming said the lingering impact of the downturn has not affected the development of the port area. The group is to invest CNY1 billion (US$146 million) on the phase two of the project, but has not yet decided on its scale.
Investment in phase two will be less than on phase 1, Mr Yu said, adding that the group will focus on distribution and warehousing facilities in the new project. There are currently 150,000 square kilometres' warehousing space at the port area and will be expanded to 500,000 square kilometres in two to three years. The group will mainly invest the expansion.
The Qianhaiwan Bonded Port Area covers a total area of 3.7 square kilometres. The first phase is 1.17 square kilometres, comprising Mawan Port Area's #5, #6, #7 berth and the bonded logistics operations area, which are 1.5 kilometres apart from each other. A special restricted route will be built by 2010 to connect the two areas.
Group's vice manager of business development Hu Yong said the group's future expansion after completion of the first phase will proceed towards the port areas to the south of the bonded logistics operations area and to the undeveloped area at the east.
As the bonded port area has become operational, Shenzhen is building a dedicated traffic system for the western port area's cargo distribution connecting the main roads in the region, separating trucks from other vehicles. The facility will open by the end of next year.
The Qianhaiwan Bonded Port Area's function is not as comprehensive as Hong Kong's free port, said Mr Yu. But as ties between Hong Kong and Pearl River Delta are growing closer, if Hong Kong can strengthen its cooperation with Qianhaiwan, the two can complement each other with their strengths. Mr Yu noted that Guangzhou's Nansha Port Area is more of a rival than Hong Kong.
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