Evergreen Marine Group to inaugurate US$300m dock at China's Qingdao Port

Evergreen Marine Group will soon inaugurate a newly built dock near China's Qingdao Port, a Chinese-language newspaper reported yesterday.

US$300 million

The US$300 million investment -- launched two years ago -- is aimed at providing logistic support to Evergreen vessels sailing between China, South Korea and Japan, the Commercial Times quoted Qingdao Port officials as saying.

The report said the dock's unloading and other facilities will be inaugurated soon but did not provide a date.

The investment was made through Hong Kong's Pan Asia Co, the report said.

Evergreen, with a fleet of about 100 container vessels, is the nation's largest shipping company.

Company spokesman Nieh Kuo-wei told the Taipei Times yesterday that he was not aware of the investment and refused to comment further.

regulation

The government strictly regulates investment in infrastructure projects in China, but Taiwanese companies often bypass the restrictions by investing via their subsidiaries or other overseas firms.

Source: TAIPEI Times