Guangzhou Port Group to Invests $1 Billion For a New Container Berth in Nansha, China
Guangzhou Port Group will invest over $1 billion in building a new berth in the Nansha Port Area in China. This berth will add up to 500,000 TEUs of annual container processing capacity to the port.
The Guangzhou Port Group stated that they will create a subsidiary to own and operate the berth which will have a paid-up capital of around $210 million. The berth itself is expected to take three years to build and will be the fifth berth in the port. 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 annum.
The Guangzhou Port Group manages the fourth busiest container terminal in China. Currently, the Guangzhou Port has an annual processing capacity of 23 million TEUs per year but it handled 24.18 million TEUs in 2021. This volume in 2021 was a 4% increase over the container volume processed in 2020.
Nansha has been the fastest-growing port in South China ever since its opening in 2004 and volumes at the port have increased every year since its opening. In the Covid 19 outbreak of 2021, a portion of the cargo volume was diverted from the neighboring Yantian Port to Guangzhou Port, further increasing the incoming volume.