Guangzhou Port Group, which operates the fourth-busiest container port in China, will invest over US$1 billion in building a new berth in the Nansha port area that will add 500,000 TEU of annual container processing capacity.
On the whole, Guangzhou Port has a current annual capacity of over 23 million TEU and handled 24.18 million TEU in 2021, up 4% from 2020. Nansha, particularly, has been the fastest growing port in south China since it opened in 2004, with volumes increasing every year since. The Covid-19 outbreak in neighbouring Yantian port in May 2021 also diverted some volumes to Guangzhou that year.
In a filing to the Shanghai Stock Exchange on 27 September, Guangzhou Port Group said, “The investment intends to better serve the economic and social development of the hinterland and speed up cargo processing.”
The group added that it will create a subsidiary, with paid-up capital of around US$210 million, to own and operate the berth, which is estimated to take three years to build. The berth will add to the four berths that were opened in November 2021 and June 2022.
With regard to container processing, the new berth would accommodate six inland container barges at any one time.
Besides containers, the new berth to be built in Phase 3 of the Nansha port development, will also be able to process 15.5 million tonnes of bulk and general cargoes.