The first phase of a logistics terminal jointly built by China and Kazakhstan went into operation in China’s eastern port of Lianyungang on Monday.
The terminal, with a total investment of 606 million yuan (US$98 million) by the port in Jiangsu province and the Kazakhstan Railways, has a planned container yard of 220,000 square meters and 3.8 km of railways.
The terminal is seen as a platform for goods from central Asian countries to go overseas and a boost to the construction of the Silk Road Economic Belt. It has a yearly loading capacity of 410,000 twenty-feet equivalent units. It mainly runs cross-boundary transshipment and warehouse businesses.
The construction of a container yard and a management and control system is expected to be completed by the end of this year with an investment of 500 million yuan (US$80 million).
The second phase of the terminal, with an investment of about 400 million yuan (US$64 million), includes a grain berth and silos.
The third phase of the terminal, with an investment of about 2 billion yuan (US$320.6 million), is expected to be a 5 square kilometer logistics transit and distribution base with functions of storage, processing, trading and transfer.
Lianyungang is at the eastern end of the New Eurasian Land Bridge and the proposed Northern East-West Freight Corridor.