Nanjing starts building CNY50 billion shipping business centre

EASTERN China's Yangtze River city Nanjing has started construction of the first phase of the Nanjing Yangtze River International Shipping and Logistics Service Centre, a business building cluster costing CNY50 billion (US$7.84 billion) to build, Xinhua reports.

The first phase cost CNY3.3 billion, covering a land area of 35,000 square metres and a total floor area of 290,000 square metres. Construction is expected to be finished by the end of 2014.

The Nanjing Yangtze River International Shipping and Logistics Service Centre will be a business cluster for carriers, freight forwarders, trading, personnel training and technological development.

Nanjing plans to deepen its navigational channel to 12.5 metres during the 12th National Five-Year Plan period from 2011 to 2015. After the upgrade, Nanjing port can accommodate ships of 80,000 tonnes while 100,000-tonne ships can sail on the channel on high tides. This will facilitate the port's river-sea intermodal service and boost its upgrade from a river port to a seaport, unveiling greater potential of the port's development towards a shipping hub.