Home Industry News Guangzhou Port to Invest $284m in Nansha

Guangzhou Port to Invest $284m in Nansha

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The development of a shipping and port complex at Nansha, a sub-port of Guangzhou Port, will cost close to $284 million. This complex will include container leasing, stevedoring, forwarding, and other port services.

After throughput increased by 3% annually to 7.3 million teu in the first four months of 2023, the fifth-busiest container port in the world is upbeat about future development.

The complex will be located on the northwest side of Nansha’s Phase III container port at Longxue Island and take up an area of 76,000 square meters. The Phase I and Phase II container terminals for Nansha are located to the complex’s north, while the general cargo terminalĀ is close to the complex’s south side.

The multi-story complex will be 250,000 square meters and include office and residential space for shipping and logistics companies operating in the Nansha region.

Three years are anticipated for the duration of construction. The shipping complex aims to increase port efficiency and enhance local businesses’ working and living environments.

Automobile components, electronics, and petrochemicals are among the main items produced in Guangzhou. In a bid to revive the economy following a string of Covid-19-related lockdowns, Guangzhou was reportedly preparing to invest over $76 billion in the transportation, new energy vehicle, and biomedical industries in January, according to official media. Guangzhou port handled 24.6 million teu in 2022, an increase of under 2% from 2021.

The development of the maritime complex is planned to work in tandem with the Greater Bay Area, an effort by the Chinese government to link Guangzhou, Shenzhen, Hong Kong, and Macau with seven other cities in the Guangdong region into a single economic hub.

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