The Chinese company Landbridge Group Co., Ltd., located in Rizhao, owns businesses in the infrastructure, energy, port logistics, petrochemicals and cultural tourism industries. The group built the Landbridge Port, where it developed a logistics chain including services of shipping and landing, storage, maritime agency and maritime transport; and will built a deepwater integrated port to transport 50,000-150,000 tons of crude and refined oil, 5,000-50,000 tons of liquid chemicals, and 100,000-300,000 tons of bulk products and minerals. In the petrochemical sector, Landbridge Group is aimed at the production, sale, storage and transport of oil and chemical products, and at the production and sale of jade sanitary fittings; and through Rizhao Landbridge Port Petrochemical Co. Ltd (2005), the group finances and builds petrochemical projects in the District of Lanshan. Landbridge Group is the first Chinese private firm in merging and acquiring a foreign company, the Australian company Westside Corporation Limited. In 2017, the group announced its first project in Latin America which consists on the construction, operation and management of the Panamá-Colón project, which includes a 2.5 million TEU capacity container terminal for Neopanamax vessels and a general cargo area on Isla Margarita.