Hong Kong: The port operation arm of COSCO, Cosco Pacific, announced that the company has agreed to set up a jv with China Merchants Holdings (International) to operate an iron ore facility in Dongjiakou, Qingdao.
The Dongjiakou iron ore terminal already has two berths with total capacity of 500,000 metric tons, including one 300,000 tons-class iron ore loading and unloading berth, and one 200,000 tons-class iron ore berth and supporting facilities.
Cosco Pacific and China Merchants will separately owns 25% shares of the terminal, while Qingdao Port Group has 30% and IMC Group holds 20%. [04/06/13]
