LOS ANGELES - China Shipping on Monday announced the completion of a major phase of its terminal expansion project at the Port of Los Angeles.

"We take great pride in the growth and success we've experienced at the Port of Los Angeles," said Chairman Li Shaode of China Shipping. "The completion of this critical phase allows for the berthing of two ships simultaneously and positively positions China Shipping and the Port for considerable growth opportunities."

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The project added a new 925-foot(282 meter) section of wharf, 18 additional acres (7.3 hectare) of backland and four state-of-the art container cranes that will increase cargo throughput, create jobs and reduce air emissions.

Los Angeles Mayor Antonio Villaraigosa, who attended an inauguration event held on the wharf, congratulated China Shipping on the project.

"I commend China Shipping for its long-term commitment to the Los Angeles economy and the environment," he said. "This is a global company that has made a major financial investment in Los Angeles to significantly grow its business using the cleanest technology available."

China Shipping operates the West Basin Container Terminal at the Port of Los Angeles, the leading seaport in North America in terms of shipping container volume and cargo value. The port generates 919,000 regional jobs and $39.1 billion in annual wages and tax revenues.

With the most recent $47.6 million expansion phase completed, the terminal now has 2,125 feet (648 meter) of wharf space and eight super post-Panamax cranes, handling cargo operations for the China Shipping, Yang Ming, K-Line, Cosco, Hanjin, Sinotrans and Zim shipping lines.

Founded in 1997 and is headquartered in Shanghai, China Shipping Group started its service at the Port of Los Angeles on Dec 3, 1999. It operates five ship fleets of more than 430 vessels including container ships, oil tankers, bulk ships, passenger ships and specialized cargo ships.