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SPG launches ceremony for accomplished, new projects

|chinadaily.com.cn |Updated: April 26, 2022

A signing ceremony for 33 projects related to the integrated development of port, city and industry was held at Yantai Port, a subsidiary of Shandong Port Group (SPG) on April 22. These projects, which have been completed, started construction, or are receiving new investments, have a total investment of more than 30.3 billion yuan ($4.58 billion). They cover areas like transportation, energy resources, and logistics, and are expected to boost Yantai's high-quality development.

According to the development plan of the group, there are eight port-city-industry integration projects which are newly invested and have a combined investment of 5.17 billion yuan. A total of 15 projects valued at 21.98 billion yuan started construction, and 10 finished projects with an investment of 3.18 billion yuan were put into operation the same day. All the projects will boost the market from port resources for businesses.

Two LNG projects will help Yantai Port improve its port functions, and foster the regional development of the city. The crude oil and pipeline projects will become new growth poles for SPG to build an important global energy and raw material transfer base.

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