ZHOUSHAN City Jingtang Port Development Company together with Ningbo Port Authority have jointly established a new company in Zhejiang province called, Zhoushan Yongzhou Container Terminal Company, to operate a container terminal and manage container-related business.

The total initial investment in the new company is around US$30 million.

The newly formed terminal company will build a container terminal on Jingtang island with six container berths and multi-purpose berths at a cost of CNY5.5 billion (US$664 million).

The new terminal is expected to have an annual handling capacity of 2.7 million TEU.