The opening ceremony of Yantai Rising Dragon International Container Terminals Ltd (YRDICT) was held in Yantai yesterday.
YRDICT is a 778 million yuan joint investment of ICTSI Hong Kong, Yantai Port Group and the Transportation Company of SDIC. With its two container berths and a 730-meter-long coastline, it is expected to handle more than 900,000 TEUs annually.
According to Zhou Bo, president of Yantai Port Group, this is the sole investment of ICTSI Hong Kong on the mainland. ICTSI Hong Kong is a wholly owned subsidiary of ICTSI, which is headquartered in the Philippines.
Yantai Port, which is listed among China's top 10 commercial ports, opens 34 lines for containers with direct shipping lines to more than 150 ports in over 100 countries and regions.
(China Daily June 19, 2007)