Located next to CXP, CCIP will increase overall handling capacity by 60% to 16 million tonnes a year, and expand the current berth length from 1.7km to 2.8km. The total land area will also increase by 35% to 1.36sqkm and warehousing space by 67% to 175,000sqm.
The 90% stake will be purchased from Changshu Binjiang Urban Construction Investment & Management, which will retain the 10% of CCIP. The purchase is expected to be completed by 25 March 2014. Changshu Binjiang is wholly-owned by Jiangsu Changshu Economic Development Group, which also owns a 5% stake in CXP.
CXP specialises in handling pulp, logs and finished steel products. As of September 2013, it handled more than 16% of China’s pulp imports and 18% of the nation’s log imports from New Zealand.