Malaysian conglomerate Sime Darby will invest RM1.4 billion ($144 million) in its Chinese port operations over the next three years.
Under a five-year development plan, the company will double the number of berths at Weifang port in Shandong province from 12 at present to 24 by 2017.
Three berths are now under construction and will start operations by the end of the year.
The expansion will boost capacity at the multi-purpose port, located south of Beijing some 50 kilometers from Weifang city, from 18 million tonnes per annum to 50 million tonnes per annum.
DHL, Downstream Logistics, Shandong Luzhong Distribution Co, Changshu Westerland Warehousing and Huadian Cooperation Weifang Power Generation Co have all signed MoUs committing them to use the port’s facilities with Sime Darby.
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