March 11 (Bloomberg) -- Tianjin Port Group Co. plans to invest 110 billion yuan ($16.7 billion) by 2015 to help boost annual cargo volumes as growth in the world’s second-biggest economy spurs demand for sea transport.
“The fundamental factors are all positive toward stable growth” of cargo volumes with the global economic recovery, Chairman Yu Rumin said in an interview in Beijing today while attending the national legislature’s annual meeting.
The state-owned company aims to boost annual cargo shipments to as much as 600 million tons, Yu said. Container volumes may more than double from last year to as much as 20 million units a year by 2015, Yu said.
To contact the reporter on this story: Tian Ying in Beijing at email@example.com
To contact the editor responsible for this story: Neil Denslow at firstname.lastname@example.org