Liangjiang's Guoyuan Port has received 1.07 billion yuan ($172 million) from Guotou Transportation Company. The investment marks the successful cooperation between Chongqing Gangwu Logistics Group and Guotou Transportation Company.
The money will be spent on a public-private partnership (PPP) project construction. In total, the project is expected to receive a total investment of 4.3 billion yuan. According to Guoyuan Port authorities, the project will take up an area of 133.33 hectares.
A signing ceremony marking the construction of the project was held in Liangjiang New Area in March. According to the contract, the project will include the construction of several areas, such as a cargo working area and railway working area.
PPP refers to the long-term cooperation between private companies and governments in public services or infrastructure. PPP projects are generally invested in and operated by private investors and supervised by governments.
Edited by Jacob Hooson
Chongqing lies at the convergence of the Yangtze and Jialing rivers.