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Contract Signed to Boost Container Transportation at Guangzhou Port
Guangzhou Port signed a ontract with the Singapore-based PSA Co. Ltd Tuesday, in Guangzhou, capital city of south China's Guangdong Province.
The two sides will jointly invest 100 million US dollars to improve the New Port's handling capacity of containers through technical innovation, and establish a joint stock company to facilitate the port's operation.
PSA is the largest firm specializing in managing ports engaged in the transportation of containers worldwide.
When the cooperative project is completed in 2005, the handling capacity of Guangzhou Port is expected to reach 3.8 million containers, as compared with 1.42 million reported in 2000, experts say.
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