China: CCCC Guangzhou Bags Qinzhou Port Dredging Deal
- Business & Finance
On October 21, CCCC Guangzhou Dredging Co., Ltd. won the bid for Lot 1 of the branch of a 300,000t channel of Qinzhou Port, with a contract value of 320 million Yuan and a construction period of 24 months.
The channel involved in the project is located at the mouth of Qinzhou Bay and ends to the south of the basin of the proposed 300,000t crude oil terminal, with a full length of some 8.51 kilometers, a designed effective width of 320 meters, a designed bottom elevation of -21.0 meters and a tidal assurance rate of 70 percent.
The project follows the global trend of upsizing of transport ships, effectively reduces shipping costs, and is of great significance to improving the port’s hardware facilities and giving full play to the function of Qinzhou Free Trade Port Area.
Press Release, October 28, 2013