Hong Kong-based port operator COSCO Shipping Ports signed an investment agreement with Guangzhou Nansha Economic and Technology Development Zone Commercial Bureau.
Under the deal, the company plans to develop phase I of terminal extended business in the land near Nansha Stevedoring Corporation Limited of Port of Guangzhou and Guangzhou South China Oceangate Container Terminal Company Limited, in order to develop port supply chain platform and a high-end warehousing business, as well as extend the upstream and downstream industries.
Leveraging on Nansha Free Trade Zone’s policy and favourable geographical position, the Company plans to establish supply chain platform to develop various business,
Phase I of the project covers a construction area of about 254,000 m2 and consists of warehousing, comprehensive service areas and supporting facilities. Relying on the resource advantages of COSCO Shipping Group in shipping, ports, trade, logistics and finance, the Company will build a high-standard port supply chain base integrating logistics, warehousing and business support services.
“The development of terminal extended services and port supply chain platform will be a new growth driver for COSCO Shipping Ports and the company will put great effort in it,” Zhang Wei, Vice Chairman and Managing Director of COSCO Shipping Ports, said.
“COSCO Shipping Ports’ investment in port supply chain project in Nansha heralds the company’s initiative to take advantage of scarce logistics resources near the port and develop high-end warehousing business.”