THE Guangzhou Port Group (GPG) has earmarked US$1 billion for a new berth at Nansha with a 500,000-TEU annual capacity, reports London's Port Technology.
The investment is subject to approval by the company's general meeting of shareholders.
The new berth will be able to accommodate six inland container barges at a time and process 15.5 million tonnes of bulk and general cargo per year.
The berth will add to the four berths that were opened in November 2021 and June 2022.
The company made the announcement in a filing submitted to the Shanghai Stock Exchange.
The aim of the project is to bolster the economic and social development of the hinterland, speed up capacity building, improve the passing capacity of general and container terminals, and accelerate the development of the main port business.
The company has set up a wholly owned subsidiary with paid-up capital of $210 million to invest in the construction and operation of the project.
The construction period of the project is expected to be three years. In August, the Port of Nansha began operations of its fully automated terminal, the first of its kind in the Guangdong-Hong Kong-Macau Greater Bay Area, aka the Pearl River Delta.