China's First Deep-water Port on Island Operational

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Last updated at: (Beijing Time) Sunday, December 22, 2002

China's First Deep-water Port on Island Operational

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China's first deep-water port built on a sea island commenced operations on Saturday, with the capacity to accommodate 250,000 to 300,000 tons of displacement ships, according to the major investor in the project.

The port is located on Majishan island, near the mouth of the Yangtze River, China's vital waterway.

It will serve not only Baosteel, or Baoshan Iron and Steel (Group) Corporation, the project investor, but also iron and steel makers along the middle and lower reaches of the Yangtze, said Xie Qihua, general manager of Baosteel.

The new port may generate new sea routes to countries and regions such as Australia, Brazil, Canada, Peru and Venezuela, according to Xie.

Baosteel produced 18 million tons of steel last year, and its iron ore was mainly imported. Its core subsidiary, Baosteel Stock Company, imports 19 million tons of iron ore annually, half of it from Brazil, via a 12,000 nautical mile route. The port will help Baosteel and other steel companies along the Yangtze to import iron ore, said Xie.

Construction of the port got underway in November 1998, and theport currently handles 20 million tons annually, according to company sources.

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