Greater China

Chongqing Gangjiu acquires container business

Shanghai: Chongqing Gangjiu Co, the operator of Chongqing port and the largest port company in southwest China, announced non-public share issue plans to raise up to RMB1.2bn to find the purchase of container assets from Chongqing Guoyuan Port as well as to replenish working capital.

Guoyuan's container facilities include six container berths, two of the berths had started operation at the end of 2013, and another four are under construction, with the initial container handling capacity is to reach 400,000 teu.

After the completion of the deal, the company’s container handling capacity will be expanded, which would bring a positive influence to the company’s profits, Chongqing Gangjiu said. [17/01/14]

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