Chongjin Port Development Plan Signed (North Korea)
North Korea reached a deal with a Chinese company to develop a local harbor in the northeast region of the country.
According to koreajoongangdaily.com, Yanbian Haihua Group, a private Chinese developer, signed a formal contract with a North Korean firm to develop the Chongjin port in North Hamgyong.
Under this contract, both sides agreed to co-management of two piers of the port, which can handle 7 million tons of cargo at maximum in total, for the next 30 years.
Dredging Today Staff, September 11, 2012