The port of Ningbo is investing CNY6.5 billion (US$836.17 million) to build a new container terminals inside the Beilun port area, Xinhua reports.

The phase five terminal is expected to add 2.5 million TEU to the port's annual capacity. It is designed to have a quay length of 1,625 metres and be equipped with five berths that will accommodate vessels of between 50,000 and 100,000 tons.

The decision to extend the port of Ningbo comes as the facility is operating at full capacity. The new terminal will therefore help to sustain the port's long-term development.