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SPG launches 30 projects worth 19.7b yuan

|chinadaily.com.cn |Updated: July 27, 2022
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Shandong Port Group or SPG held a ceremony for 16 construction projects that completed construction during the first half of this year and the inauguration of 30 new projects that are set to begin construction during the last six months of this year at the Dongjiakou port area of Qingdao Port on July 26.

Project construction serves as a ballast stone for driving an economic rebound and stabilizing economic growth. It will also give a boost to the economic development and the readjustment of the local industrial structure.

Since the beginning of this year, SPG has beefed up efforts to promote the construction of projects, and a series of signing ceremonies for projects related to the integrated development of ports, cities and industries have been held. These projects, which have been completed, started construction, or received more investment, are aimed to help achieve the development goals of Shandong cities, and stabilize the local economy.

According to official data, in the first half of this year, SPG completed construction of 16 key projects worth 11.8 billion yuan ($1.75 billion). These projects include four newly-built berths, with a designed annual handling capacity of 12.19 million metric tons, and a 370-kilometer-long crude oil pipeline, which has an annual transmission capacity of 20 million tons.

SPG has attached great importance to promoting the construction of key projects, which are key to its future development, and will also help the group achieve stable and sound development.

In the second half of this year, SPG plans to start the construction of 30 projects with a combined investment of more than 19.7 billion yuan. The projects include a port infrastructure facility, a crude oil pipeline, and a cross-border e-commerce and distribution center.

Among the projects, a total of 13 worth 9.8 billion yuan will be constructed in Jinan, Qingdao and Weihai. Four projects worth 3.7 billion yuan will be constructed in Rizhao city. Eleven projects worth 5.7 billion yuan will be constructed in the coastal city of Yantai. Two projects worth 424 million yuan will be constructed in Weifang and Binzhou.

According to port officials, the total investment of SPG's construction projects will reach 256 billion yuan during the 14th Five-Year Plan period (2021-25).  

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SPG holds a ceremony for 16 construction projects at the Dongjiakou port area of Qingdao Port on July 26. [Photo provided to chinadaily.com.cn]

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