PSA likely to operate the phase 2 project of Yangshan Port

PSA will probably be operating the phase 2 project of the Yangshan Port. "Ten days later, a management team comprising Chinese and foreign members will be formed. The name of the foreign partner will be disclosed soon. PAS has great chance to be selected as the foreign partner," Liu Zuoliang, Chairman of the Shanghai Tongsheng Investment (Group) Co Ltd told press.

Since the trial operation of the Yangshan Port starting from Nov 25, the volume of imported and exported cargos has been increasing day by day. The Shanghai Customs has supervised 3,000 batches of goods, and 10,000 TEU in and out the Yangshan Port Free Trade Zone. By Dec 10, the Customs had collected taxation of 15 million yuan.

The proportion of revenue from transshipment to total revenue at Shanghai's ports is still less than 5 percent, much lower than 50 percent in Hong Kong and Singapore. At present the Customs of the Yangshan Free Trade Zone is seeking to attract more ships to transship at the port through improving the soft environment.

According to Liu, the investment in the phase 2 project of Yangshan Port will be six to seven billion yuan; investment in the phase 3 will be basically the same as that of the Phase 2.

By People's Daily Online