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SPG joins hands with the city of Yantai to boost coordinated growth

|chinadaily.com.cn |Updated: June 11, 2020

Shandong Port Group (SPG) saw new gains in port-industry-city integration on June 7. SPG's Yantai Port witnessed the signing of strategic cooperation agreements and the groundbreaking ceremony for Harbor Tower and a port supply chain service center project. With this opportunity, SPG aims to further integrate into Yantai, serve the city and boost its economic and social development.

On May 14, SPG signed a strategic cooperative framework agreement with Yantai municipal government in a bid to set a prototype and explore ways to promote port-industry-city integration in ports construction, business cooperation, industrial concentration, parks planning and other fields. After a few weeks, the two sides signed nine more specific strategic cooperation agreements, which showed SPG's resolution to become Yantai's "golden partner" in developing the regional economy.

SPG will strengthen exchanges with local governments and important partners and give full play to its leading role in port-industry-city integration, in an effort to conduct cooperation in various fields, including transformation and upgrading of Yantai Port's old port areas, construction of a comprehensive logistics chain and port-neighboring industries.

According to the agreement, Yantai Port will join hands with Shandong Port Industry-City Integration Development Group Co and Shandong Port Culture & Tourism Cruises Group Co to establish a joint-venture enterprise to develop the Yantai Sea World project.

According to information, the Harbor Tower and the supply chain service center, covering about 89,000 square meters, is designed to be a comprehensive office building integrating the functions of working, production dispatching, customer services, and corporate culture exhibitions, and is expected to be completed in December 2022.

In the future, SPG and Yantai will continue to conduct multifield, in-depth and all-dimensional bilateral cooperation to turn Yantai into a city with prosperous manufacturing industry and marine economy, a city suitable to live and work in and travel to, as well as a modern international coastal city.

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