The Wuhan port and shipping development group, which is the world’s largest independent port operator for Major dry bulk cargo, will be renamed as Hubei provincial port group.
This is a part of China’s Hubei Province’s plan, to consolidate regional port assets and establish a provincial port group to manage and operate the port resources.
To support the infrastructure construction and project development, it will be funded by a sum of CNY 1 billion ($156 million) this year, and on 2022, that is an increase of 23.9% from the year 2020.
It will also operate on 380 million TEU cargo, which is an increase of 9.8%. The new port group, would be the largest port operating along the Yangtze and Han river.