Hong Kong-listed Fairyoung Holdings is embarking on an aggressive plan to invest up to $1 billion in terminals, trucking and warehouse projects in China.
Managing director John Chan said Fairyoung would spend $300 million on construction of Dongdu port of Xiamen's Berths 13 and 14, to be built at a total cost of $500 million.
'Berth 13 will be operational next year,' he said after a ceremony yesterday to mark the start of reclamation work for the berths.
'Our Berth 12 project will start operations in November when we receive our quay cranes from Germany,' Mr Chan said.
He said the company already had invested $350 million in Berth 12 from internal funding, a sum which was not included in the $1 billion investment plan.
Fairyoung's investment in Dongdu port, the fifth largest port in China, is held through a joint-venture company, Xiamen Xiang Yu Quay Co, of which it holds 92 per cent.
Xiamen Port Bureau has the remaining 8 per cent.
