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Shandong Port Group marks advancements in building world-class port cluster
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Shandong Port Group (SPG), a State-owned enterprise that operates major ports in East China's Shandong province, recently marked the completion and readiness of its world-class port cluster in five cities with a total investment of 229.51 billion yuan ($31.88 billion).
The celebration was held successively at Qingdao Port, Yantai Port, Rizhao Port, Binzhou Port and Weifang Port, all of which are subsidiaries of SPG.
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In Qingdao Port, one of the world's largest comprehensive ports, SPG has a total of 32 completed and planned projects with a combined investment of 75.49 billion yuan, signifying a promising start to the new year in terms of collaboration between the port and the city of Qingdao.
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In Yantai Port, SPG has completed and scheduled 32 projects with a total investment of 56.25 billion yuan, focusing on port infrastructure and industrial parks in close proximity. The objective of these projects is to position Yantai, a coastal city with a rich history, as a key national logistics hub centered around its port. This designation will enhance the overall development of the port areas, industrial parks and surrounding urban areas, driving economic growth.