Shanghai: Hubei, a growing transport hub on the Yangtze river, is planning to consolidate its port assets and set up Hubei Port Group to promote the integration and management of local ports. However, the opening of the new port group has been delayed.
The authority issued plans this year to promote economic development and transportation along Yangtze river. Sichuan, Hubei, Hunan and other provinces have joined the move to integrate the port assets.
Hubei expected to establish the provincial port company through equity consolidation and reform the current ports structure, then set up an investment arm, a port operation arm, and a shipping and logistics arm separately. However, due to the complexity of local equity interests involved, it has proved difficult to integrate port resources in one step.
Hubei Port Group’s opening has been delayed since August and now the authority has further delayed the schedule without giving any new deadline. [12/11/14]