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Dubai invested US $500million in Qingdao to build a container transfer station

according to the business department of the Chinese Embassy in the United Arab Emirates, Dubai World Port Company of the United Arab Emirates announced on November 16 that it had signed an agreement with Qingdao to build a container transfer station in the port of qingzongshang island. According to the agreement, Dubai World Port Company has 100% rights to the transfer station, and the transfer will determine that the batch of joints are unqualified. The transfer station includes four deep-water berths, with an annual processing of 2million standard containers and a total investment of 500million US dollars

the project has been implemented by Dubai World Port Company Qingdao Co., Ltd. of China so far. All the procedures of the project have been approved by the government department, and the construction will begin. It is expected to start operation in September, 2008, with a very high office rent. Qingdao, located in Shandong Province in the east of China, is the third largest container port in China, with an annual processing capacity of 6million standard containers. The contract is included in the framework of Dubai World ports' strategic plan to expand its business in China and northern Asia

Sultan suleim, chairman of the board of directors of Dubai port company and Dubai free zone, said that this agreement has strengthened the relationship between Dubai and China, and we will strengthen long-term cooperation with the Qingdao municipal government. Due to the rapid economic development in Qingdao, the signing of the contract is at the right time. We will contribute to the development of international trade relations in Qingdao and benefit from the economic development of the region

source: China water transport news

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