A new joint venture has been established in Huangshi, Hubei province, with investment from Shenzhen Yantian Port, according to SinoShip News.

Yantian Port will invest Rmb400m for an 80 per cent equity stake in Huangshi Qipanzhou Port Company, with the remainder held by Huangshi Communications Investment.

The joint venture will manage and operate Qipanzhou terminal on the Yangtze River, and develop port infrastructure.

Yantian Port said the investment is a response to the central government’s call to develop shipping on the Yangtze River. Based in the southern province of Guangdong, Yantian has made other investments in inland areas in a bid to lure traffic to its port.