Port operator China Infrastructure Group has received US$14 million in funding from the International Finance Corp (IFC) to aid its Zhapu port project in northern Zhejiang. China Infrastructure said it planned to build a new port on 1.2 million square metres of reclaimed area next to its multipurpose and petroleum products port. The cost of the Zhapu port expansion has been estimated at more than HK$400 million. The IFC's financing package to China Infrastructure includes a strategic equity investment valued at US$3 million and US$11 million in project loans. This is the IFC's second financing package to China Infrastructure. Earlier this year, the IFC - the investment company arm of the World Bank - arranged a financing package valued at US$11.5 million for China Infrastructure's Wuhan International Container Trans-shipment project. The package consisted of a US$1.5 million strategic equity investment and a project loan worth US$10 million. These investments will give the IFC 10 per cent of China Infrastructure's enlarged equity. In another development, China Infrastructure has revealed that it is preparing for a listing on the SAR's soon-to-open Growth Enterprise Market. China Infrastructure expects to make its trading debut in Hong Kong before the end of the year.