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Chinese firm begins construction on panama port
CNC
Added On June 10, 2017
Work has began on the construction of container terminal on Margarita Island in the Panama Container Port.
At a cost of 1.1 billion dollars, the project is China's biggest investment in Panama.
The permanent representative of the Chinese-Panamanian Trade Development Office stressed the importance of the venture.
She said the project will help boost trade cooperation and development in Panama, as well as creating more jobs.
During the ceremony, Panamanian President Juan Carlos Varela said the project was a reflection of "how Panama offers its platform to support foreign investment with transparency."
When completed, the port will have three docks offering additional capacity for trade.
The project comes about a year after an upgrade to the Panama Canal, allowing larger ships to pass through.
http://en.cncnews.cn/news/v_show/65320_Chinese_firm_begins_construction_on_panama_port_.shtml
News from last year,
China's Landbridge Group acquires Panama's largest port
(People's Daily Online) 14:10, May 25, 2016
Following a successful deal with Australia on a 99-year lease of Darwin's commercial port, China's Landbridge Group acquired Panama's largest port, Margarita Island, on May 12. The company plans to build a modern and efficient deep-water port, which will play an active role in coordinated development between the harbors along the One Belt, One Road path.
Located by the Atlantic entrance to the Panama Canal, the Margarita Island port is in the western hemisphere's largest free trade zone—Colon Free Trade Zone, which boasts sea, railway, land and air transportation, and is one of the world's most important goods distribution centers.
Landbridge Group plans to construct a modern and efficient deep-water port with four container berths and an annual capacity of 300 million TEUs.
After the expansion of the Panama Canal, a new generation of larger container ships will be able to pass through, which will effectively reduce transport distance, time and costs.
The expansion will also facilitate the trade of bulk commodities between South American and Asian countries, improve the efficiency of trade and transport between China and the eastern United States, and promote more cross-border trade overall.
China's Landbridge Group acquires Panama's largest port - People's Daily Online
CNC
Added On June 10, 2017
Work has began on the construction of container terminal on Margarita Island in the Panama Container Port.
At a cost of 1.1 billion dollars, the project is China's biggest investment in Panama.
The permanent representative of the Chinese-Panamanian Trade Development Office stressed the importance of the venture.
She said the project will help boost trade cooperation and development in Panama, as well as creating more jobs.
During the ceremony, Panamanian President Juan Carlos Varela said the project was a reflection of "how Panama offers its platform to support foreign investment with transparency."
When completed, the port will have three docks offering additional capacity for trade.
The project comes about a year after an upgrade to the Panama Canal, allowing larger ships to pass through.
http://en.cncnews.cn/news/v_show/65320_Chinese_firm_begins_construction_on_panama_port_.shtml
News from last year,
China's Landbridge Group acquires Panama's largest port
(People's Daily Online) 14:10, May 25, 2016
Following a successful deal with Australia on a 99-year lease of Darwin's commercial port, China's Landbridge Group acquired Panama's largest port, Margarita Island, on May 12. The company plans to build a modern and efficient deep-water port, which will play an active role in coordinated development between the harbors along the One Belt, One Road path.
Located by the Atlantic entrance to the Panama Canal, the Margarita Island port is in the western hemisphere's largest free trade zone—Colon Free Trade Zone, which boasts sea, railway, land and air transportation, and is one of the world's most important goods distribution centers.
Landbridge Group plans to construct a modern and efficient deep-water port with four container berths and an annual capacity of 300 million TEUs.
After the expansion of the Panama Canal, a new generation of larger container ships will be able to pass through, which will effectively reduce transport distance, time and costs.
The expansion will also facilitate the trade of bulk commodities between South American and Asian countries, improve the efficiency of trade and transport between China and the eastern United States, and promote more cross-border trade overall.
China's Landbridge Group acquires Panama's largest port - People's Daily Online