The second phase of the Shanghai Yangshan Deep-Water Port will be operational at the end of this year, adding another 2.1 million TEUs of annual container capacity in the city.

SHANGHAI International Port (Group) Co, operator of the Chinese mainland's busiest port, is closer to a listing on the Shanghai Stock Exchange which would sharpen the city's attractiveness as an international shipping hub.

Shanghai, the world's biggest cargo port and third-biggest container harbor, is speeding up investment in upgrading its port infrastructure and optimizing resources as it hopes to lure more international transfer cargo and to surpass Singapore and Hong Kong as the world's biggest container port in the future.

The China Securities Regulatory Commission will review SIPG's application to merge with its publicly traded unit, Shanghai Port Container Co, and seek its own listing on the Shanghai bourse.

It is offering shares at 28 times its forecast 2006 profit, the company said. It expected to earn a profit of 2.75 billion yuan this year.

If the plan is approved, SIPG is expected to be listed as early as this month.

Source:佚名