SINGAPORE - Singapore's Neptune Orient Lines (NOL), the world's seventh largest container shipping firm, announced on Thursday its first investment in a China terminal.
NOL will invest US$25.8 million in a joint venture with Chinese shipping logistics firm SITC International Holdings and Qingdao Qianwan United Container Terminal to operate a two-berth container terminal at the port of Qingdao.
The terminal will add 1.5 million twenty-foot equivalent units (TEUs) of annual capacity at Qingdao, which is China's fifth-largest container port and the largest in northern region, NOL said. -- REUTERS
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