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Port of Qingdao unaffected by Dubai crisis

2009-12-04 09:22 BJT

Special Report: Dubai Debt Crisis |

A subsidiary of Dubai World, Dubai Ports World, has heavily invested in China's port sector. Its partners include Qingdao Ports Group, Tianjin Ports Group and Yantai Ports Group.

So far, these projects haven't been affected by the Dubai crisis. At Qingdao Port, the workers busy with containers show the port is booming and it remains business as usual. In Qingdao, DP World bought 29 percent of the group's shares, with a total investment of 965 million US dollars.

Yi Ping, Deputy Director of Developemtn Department, Qingdao Port Group said "We have been cooperating smoothly with DP World this year. The number of containers increased 2.1 percent over the same period of last year. In the first ten months, we reached 8.5 million sets of standard containers. The whole year's growth rate is expected to exceed 2 percent. DP World and our group are creating a big new investment project. We believe that our future cooperation will be better and better."

Editor: Xiong Qu | Source: